Miami’s mayor Francis Suarez sees China’s Bitcoin crackdown as “opportunity for America”

  • Miami mayor Francis Suarez last week said China’s crackdown could be “the turning point” that “creates an incredible opportunity for America.”
  • “Their loss is our gain and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin,” said Suarez. “China banning bitcoin is a massive mistake with impacts that will be felt for generations.”
  • Suarez also has ambitions to make Miami the “crypto mining capital” and insists it can be done “sustainably and incorporate solar.”
  • The Federal Reserve Chair Jerome Powell has also weighed in on China’s fallout with crypto. Testifying before the House Committee on Financial Services, Powell said he has “no intention” of banning crypto currencies.

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