Miami Mayor Francis Suárez delivered his keynote address at the Bitcoin 2021 conference. He said the days of a currency tied to a central bank are coming to an end. Bitcoin 2021, considered the largest BTC-oriented conference yet, is taking place in Miami right now.
On this occasion, the mayor of Miami offered his support for Bitcoin, since on other occasions, he has manifested himself as an enthusiastic bitcoiner. In fact, he confessed to having bought both Bitcoin and Ether for his personal assets, in anticipation of inflation due to the economic stimuli given by the US government.
The mayor of Miami has repeatedly shown support for Bitcoin
At the event, the Mayor of Miami spoke highly of Bitcoin and the entire cryptocurrency movement. He even compared them to what Miami is trying to achieve by becoming a tech hub. He had already spoken about this on previous occasions, even calling crypto miners to move there.
He said that many believe that the current influx of people to the city is mainly due to COVID-19 and that once the pandemic is true, they will “go home.” He compared this to Bitcoin and all the people saying that it will fail and that it is a failed financial experiment.
He urged people to stop paying attention to the current volatility. Reminding everyone that the price of Bitcoin is doing well and that it has had a sharp increase since the beginning of the year.
Showing an insider’s knowledge of technology as well, Suarez said that the clash between Proof of Work and Proof of Stake will finally come to an end. While asserting that the United States will be a powerhouse when it comes to mining renewable energy bitcoins.
Finally, the mayor also gave a ruling against fiat currencies such as the dollar. He said that “the days of a currency tied to a central bank are coming to an end.”
India’s central bank remains against cryptocurrencies, claiming it has ‘not changed’ its stance
India’s central bank shows no signs of softening its stance towards cryptocurrencies. The Governor of the Reserve Bank of India, Shaktikanta Das, reiterated the position of the institution in a recent press conference after a statement on monetary policy, emphasizing that:
“We have great concerns around cryptocurrencies, which we have conveyed to the Government.”
The governor’s comments come after the Reserve Bank of India was forced to clarify that banks should no longer cite the now-defunct Circular from the Reserve Bank of India as a reason for not serving companies in cryptocurrencies.
Recent local media reports had suggested that the document continued to provide an alibi to banks reluctant to deal with entities in the crypto space, despite the Supreme Court ruling that the ban was disproportionate and overturning it in March 2020. .
CEOs of Russia’s Largest Banks Charge Against Bitcoin
Sberbank and VTB, Russia’s two largest banks, are unwilling to enter the cryptocurrency market in the near future, as their CEOs believe cryptocurrencies are too risky or fake money.
Sberbank CEO Herman Gref claimed that cryptocurrencies like Bitcoin are probably the riskiest type of investment alongside the stock market. In an interview with local television channel NTV on Thursday, Gref said that a bank deposit is the best investment option, because it is associated with the least risk despite low returns:
“A bank deposit is undoubtedly the most reliable investment instrument. 100% reliability, but unfortunately not very profitable ».
Andrey Kostin, the CEO of VTB (Russia’s second largest bank) went even further, arguing that cryptocurrencies are ‘fake money’. In an interview Friday with Bloomberg, Kostin said:
We don’t like Bitcoin. We think it’s like making fake money. Someone is sitting somewhere mining non-stop like in the Middle Ages and then using them.
Kostin expressed confidence that digital currencies issued by central banks will displace cryptocurrencies, stating that private banks were initially “a little concerned” about giving all power over money to the Bank of Russia.