The Mayor of Miami, Francis Suarez believes that Bitcoin (BTC) should be viewed from an innovation perspective and not just as an investment asset.
Suarez’s comments came during his discussion on “The Future of Cryptocurrencies” on the third day of the World Economic Forum (WEF) 2022 held in Davos. He said:
“We live in a world where investors only look at things from a return perspective, but Bitcoin needs to be seen from an innovative and technological perspective.”
When asked about his views on the crypto market volatility debate, Suarez said that the phenomenon is part of the crypto ecosystem and has been common among nascent and evolving technology.
He reminded people that although the volatility debate seems to prevail only during a bear market, it also plays a key role when the market is rising.
He also stated that Bitcoin’s price would stabilize over time as it transitioned from an asset class to a form of “currency.” He explained:
“I will speak from the perspective of Bitcoin, as it is the original cryptocurrency. Currently, it behaves as an asset class, but over time it would become a currency. Once its currency aspect takes center stage, I think the price will It will stabilize as well.
When asked about the reason for his support of BTC, Suarez said:
“Who can we trust today? Politicians? Bankers or politicians? This is where products like Bitcoin are making their mark, as despite being invented by a human, they have been designed to follow a series of codes that cannot be altered”.
Suarez was joined by the CEO of the Crypto Council for Innovation, Sheila Warren, who agreed with the mayor of Miami on the Bitcoin debate, saying that “[Bitcoin] It has proven its worth by holding up through several price cycles and its current price speaks volumes about its cycle.”
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information set forth herein should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the full amount invested may be lost. The services or products offered are not aimed at or accessible to investors in Spain.