The Miami Bitcoin statue: The confirmatory test of Bitcoin acceptance in the USA.
Recently a Miami bull with the likeness of the Wall Street's Charging bull except with bitcoin "laser eyes" was unveiled in the "Bitcoin 2022" conference going on in Miami, USA. The statue which is very magnificent weighs about 3000 pounds ie 1,361kilograms .
The Miami Bull outside the Miami Beach Convention Center during the Bitcoin 2022 conference in Miami, Florida.
Miami has proved to be a great playground for crypto currency in the USA. This unveiling of this Bull portray 3 things for the crypto world :
First, the bull shows a sense of acceptance and confidence in the bitcoin technology and growth. There is an estimated 25000 participants for the "Bitcoin 2022"conference going on now. Bitcoin has come to stay and even institutions are now embracing it despite their hatred for its disruption of the traditional financial system. Politicians across divide are also embracing it and might even vote based on a candidate that is pro bitcoin inclined. This is evident in the words of Francis Suarez, Miami mayor when he said, “We need to elect Pro-Bitcoin candidates, and yes, the next president of the US has to be a Pro-Bitcoin candidate".
Secondly, from the above words of the Mayor of Miami and the actions of the Governor of the State towards crypto currency-he is making plans to make crypto a form of payment in the state of Florida. This can set a precedent for other states in the USA to follow suit. This can also lead to making of Bitcoin a legal tender in the USA. This is also significant because Florida is a key swing state in USA politics. The state is putting action in place to make the city of Miami an epicenter of digital assets.
In addition, this conference shows the gradual demise of the fiat dominance in the world of finance. For the third Richest man in Mexico, Ricard Salinas to say that 60% of his investment is in crypto shows us that crypto currency has dominance over fiat. There is also major announcement of various apps/institution adopting Bitcoin as payment platform such as the likes of Square and Robinhood.
Conclusion, the "Bitcoin 2022" conference in Miami has showed a very remarkable acceptance of the Bitcoin technology especially in USA.