{"id":192110,"date":"2021-06-03T15:10:42","date_gmt":"2021-06-03T14:10:42","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=192110"},"modified":"2022-01-20T19:55:23","modified_gmt":"2022-01-20T19:55:23","slug":"miami-mayor-francis-suarez-holds-bitcoin-and-ethereum-and-hes-planning-to-buy-the-dip","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/miami-mayor-francis-suarez-holds-bitcoin-and-ethereum-and-hes-planning-to-buy-the-dip\/","title":{"rendered":"Miami mayor Francis Suarez holds Bitcoin and Ethereum, and he\u2019s \u2018planning to\u2019 buy the dip"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Miami mayor Francis Suarez holds <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\"><span style=\"font-weight: 400;\">Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> and <\/span><a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\"><span style=\"font-weight: 400;\">Ethereum<\/span><\/a><span style=\"font-weight: 400;\">, he revealed during an interview with business outlet <\/span><i><span style=\"font-weight: 400;\">CNBC<\/span><\/i><span style=\"font-weight: 400;\"> today.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;I own Bitcoin and I own Ethereum,&#8221; Suarez said. He added, &#8220;I haven't bought the dip yet but I'm planning to. I've just been too busy.&#8221;<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&quot;I own <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&ref_src=twsrc%5Etfw\">#bitcoin<\/a> and I own <a href=\"https:\/\/twitter.com\/hashtag\/ethereum?src=hash&ref_src=twsrc%5Etfw\">#ethereum<\/a>,&quot; says <a href=\"https:\/\/twitter.com\/FrancisSuarez?ref_src=twsrc%5Etfw\">@FrancisSuarez<\/a>. &quot;I haven&#39;t bought the dip yet but I&#39;m planning to. I&#39;ve just been too busy.&quot; <a href=\"https:\/\/t.co\/xdKpghIRR5\">pic.twitter.com\/xdKpghIRR5<\/a><\/p>\n<p>&mdash; Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1400417501570289664?ref_src=twsrc%5Etfw\">June 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The mayor, in the interview, revealed he had purchased Bitcoin in the \u201chigh 30s\u201d and Ethereum when it hovered around $1,500. This means both his investments are in profit (and were over 100% and 300% in profit respectively at their peak).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Suarez said he bought both the cryptocurrencies when the United States Senate passed the $1.9-trillion stimulus bill in March. \u201cI knew at that point that inflation was inevitable and that there had to be some sort of a hedge,\u201d he said in this regard.<\/span><\/p>\n<h2><b>Inflation leading to crypto<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The sentiment is similar to those shared by institutional traders and technology entrepreneurs alike.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Over the past year, companies like MicroStrategy and Tesla have picked up billions of dollars worth of Bitcoin from their treasury funds, citing massive money printing and fears of overinflation as major reasons.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is hope. <a href=\"https:\/\/t.co\/5hA89KI4BK\">https:\/\/t.co\/5hA89KI4BK<\/a><\/p>\n<p>&mdash; Michael Saylor (@michael_saylor) <a href=\"https:\/\/twitter.com\/michael_saylor\/status\/1399787177962360834?ref_src=twsrc%5Etfw\">June 1, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Others like Stanley Druckenmiller have jumped on the Bitcoin train recently, citing similar arguments.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cWhen we did the CARES act, Chairman Powell started crossing all sorts of red lines in terms of what the Fed[eral Reserve] would do and wouldn\u2019t do,\u201d said Druckenmiller in a <\/span><a href=\"https:\/\/cryptoslate.com\/i-felt-like-a-moron-for-not-buying-bitcoin-says-billionaire-stanley-druckenmiller\/\"><span style=\"font-weight: 400;\">recent interview<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He added, \u201cThe problem was Jay Powell and the world\u2019s central bankers going nuts and making fiat money even more questionable than it already has been when I used to own gold.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, Suarez is one of the few political figures to turn a friendly hand towards cryptocurrencies and plan future developments for the growing market. Last year\u2014he even embraced the \u2018laser eyes\u2019 meme\u2014Suarez said he was exploring the possibility of people in Miami paying there in crypto.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">He even <\/span><a href=\"https:\/\/cryptoslate.com\/bitcoin-goes-mainstream-miami-mayor-considers-buying-btc-for-city-treasury\/\"><span style=\"font-weight: 400;\">considered buying Bitcoin<\/span><\/a><span style=\"font-weight: 400;\"> for the city treasury back in December, receiving mostly favorable comments for his statement at the time.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Miami mayor Francis Suarez holds Bitcoin and Ethereum, he revealed during an interview with business outlet CNBC today. &#8220;I own Bitcoin and I own Ethereum,&#8221; Suarez said. He added, &#8220;I haven&#8217;t bought the dip yet but I&#8217;m planning to. I&#8217;ve just been too busy.&#8221; &quot;I own #bitcoin and I own #ethereum,&quot; says @FrancisSuarez. &quot;I haven&#39;t [&hellip;]<\/p>\n","protected":false},"author":65,"featured_media":192153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,35372,29],"tags":[60786,60923],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Miami mayor Francis Suarez holds Bitcoin and Ethereum, and he\u2019s \u2018planning to\u2019 buy the dip<\/title>\n<meta name=\"description\" content=\"Miami mayor Francis Suarez holds Bitcoin and Ethereum, he revealed during an interview with business outlet CNBC today.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/miami-mayor-francis-suarez-holds-bitcoin-and-ethereum-and-hes-planning-to-buy-the-dip\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Miami mayor Francis Suarez holds Bitcoin and Ethereum, and he\u2019s \u2018planning to\u2019 buy the dip\" \/>\n<meta property=\"og:description\" content=\"Miami mayor Francis Suarez holds Bitcoin and Ethereum, he revealed during an interview with business outlet CNBC today.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/miami-mayor-francis-suarez-holds-bitcoin-and-ethereum-and-hes-planning-to-buy-the-dip\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-03T14:10:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-20T19:55:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/06\/suarez-bitcoin-ethereum.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Shaurya Malwa\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shaurya Malwa\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/miami-mayor-francis-suarez-holds-bitcoin-and-ethereum-and-hes-planning-to-buy-the-dip\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/miami-mayor-francis-suarez-holds-bitcoin-and-ethereum-and-hes-planning-to-buy-the-dip\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#person\",\"name\":\"Shaurya Malwa\",\"url\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/shaurya-malwa\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/07\/author-shaurya-malwa.jpg\",\"caption\":\"Shaurya Malwa\"},\"jobTitle\":\"Analyst\",\"description\":\"Post-mining his first bitcoin in 2012, there was no looking back for Shaurya Malwa. 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