Ever since the cryptocurrency industry started picking up in the United States, the industry was not warmly welcomed by the country’s government. There was not much support the cryptocurrency industry observed from the government of the United States.
However, the cryptocurrency industry was widely adopted by the public of the United States. At present, the United States is one of the largest markets for the cryptocurrency industry. When it came to the government level, the crypto-verse spent the worst times in the United States under Donald Trump’s run.
To put it in simple words, Donald Trump and his administration simply despised the entire cryptocurrency industry for its nature. Therefore, the industry was not given much breathing ground in the United States.
During Donald Trump’s time, major cryptocurrency firms such as Binance and Ripple both decided to leave the United States. However, the situation has started changing in the country and the climate is becoming favorable for the crypto-industry in the country.
Ever since Joe Biden’s government started running the office, the cryptocurrency industry has found an opportunity to thrive in the country. The government is also proving to be somewhat supportive of the cryptocurrency industry, which is a good thing for the crypto-verse.
Following the behavior of the US Government, many political personalities have also started opening up about their views and intentions around cryptocurrencies.
One such political personality is Francis Suarez, the mayor of Miami City. Ever since the cryptocurrency industry and Bitcoin (BTC) started picking up the pace, Suarez has shown that he likes the idea of backing cryptocurrencies.
On several occasions, Suarez has tweeted about his intentions of adopting cryptocurrencies. He and his administration have made many decisions in favor of Bitcoin and cryptocurrencies. They have even passed an order for letting the citizens of Miami City get paid in cryptocurrencies.
Right in the beginning of 2021, Francis Suarez had expressed his intentions of making Miami City a hub for cryptocurrencies. Just recently, Francis Suarez has made a revelation that has shocked government officials all over the United States.
The revelation made by Francis Suarez has filled the entire cryptocurrency industry filled with joy. During an interview at the Squawk Box program aired through CNBC, Suarez confirmed to the host that he has invested and owns Bitcoin (BTC) and Ethereum (ETH).
The recent claim has even furthered his role and status in the cryptocurrency industry as a proponent and huge supporter. Suarez confirmed that he had purchased both cryptocurrencies back in March. It happened right after congress passed the bill for the $1.9 trillion stimuli in the form of COVID-19 relief.
Suarez stated that he purchased the cryptocurrencies as a hedge because he was sure that inflation would kick in once the stimulus hit the public.