Miami Mayor Believes Crypto Winter will Soon be Over
- Miami Mayor Franciz X. Suarez said that, as per his beliefs, the prevailing crypto winter will soon be over while reaffirming his faith in the digital assets.
- Suarez hinted that he might be running for the 2024 presidential elections and said that he was in New Hampshire, a vital place for Republican candidates.
- Mayor Suarez believes that the recent rise in popularity of AI is one of the major reasons why crypto will rise and the winter will end.
- Suarez believes that Bitcoin can be a global currency and is capable of providing a much-needed alternative to traditional fiat currencies.
The mayor of the city of Miami, Francis Suarez, is widely known as being the first politician in the United States to accept a paycheck in the world’s largest cryptocurrency, Bitcoin (BTC). Despite the leading crypto coin falling almost 60% since Suarez’s announcement, he has been a constant supporter of blockchain technology and cryptocurrencies. Interestingly, the 45-year-old Republican believes that the prevailing crypto winter will soon be over and reaffirmed his faith in digital assets.
In a long and diverse interview with former CEO of tech giant Google, Eric Schmidt, at the eMerge Americas 2023 conference in Miami on Friday, Suarez hinted at the fact that he might be running for the 2024 presidential elections, a big step for the politician who has been elected twice as the mayor of the second-most populous city in the state of Florida, US.
“I just came from New Hampshire. I won’t tell you what I was doing over there,” Suarez told Schmidt. It is important to note here that New Hampshire is a very vital place for potential presidential candidates that are Republicans. On the other hand, Schmidt joked that “The mayor is freezing himself to get ready to run in New Hampshire,” resulting in widespread applause. “That’s the headline,” he added.
More importantly, the Miami Mayor believes that the recent rise in popularity of artificial intelligence, or AI, is one of the major reasons why cryptocurrencies will rise and the prevailing winter will end.
“That’s exciting for me,” Suarez told The Block after the discussion with the former Google CEO. “That’s when the use cases come up. When you thawed out of that AI winter, that’s when all of these incredible use cases came up. I think that’s a great opportunity for us.”
On the other hand, the former Google CEO, who served as executive from 2001 to 2011, stated that there was a similar AI winter before the current explosion of the technology.
“Many decades ago, when I was a grad student, AI was really hot. And the only problem is none of it worked, for all sorts of reasons,” Schmidt told Suarez while referring to a winter period wherein he went on to work on other things while adding:
“There was this explosion of new AI techniques that started in roughly 2011. And then all the sudden computers got better at vision than humans. That’s a pretty big deal. And they started playing games better than humans.”
As reported earlier by BitcoinWisdom, Miami Mayor Francis Suarez believes that Bitcoin can be a global currency and is capable of providing a much-needed alternative to traditional fiat currencies.
Suarez said last year that he was committed to exploring all options that could make Miami more economically prosperous, including the integration of cryptocurrencies. The Miami Mayor has been working with local businesses to promote the use of Bitcoin and believes that Miami can be positioned as a leader in the digital economy by embracing this new technology.
Recently, the city of Miami launched around 5,000 NFTs based on the Ethereum blockchain. and consisting of 56 designs. The 56 NFTs represent the 56 sq. mile area of the city, said Mayor Suarez while also revealing the partnership with TIME, Salesforce, and Mastercard.