Chicago Mayor Rahm Emanuel expressed confidence that the adoption of bitcoin and other cryptocurrencies is inevitable due to the increasing instability in the financial and political systems of the world.
Emanuel stressed that financial and political crises push people to use cryptocurrencies, as, for example, it happened in Venezuela. However, the mayor noted that no one can predict the timing of the universal adoption of digital assets. “Nation-states are disintegrating and suffering crises. Cities are only growing, so the political system that we all grew up on is changing. One day someone will understand how to use cryptocurrencies to survive in a financial crisis, and you will understand that this moment has come,” he said.
Of course, Emanuel lacks clarity of wording, but he clearly hints that the use of bitcoin and other cryptocurrencies will allow ordinary people to “abandon” the national economy. Citizens of countries experiencing a financial crisis will be able to store their savings in digital assets, the price of which is not associated with any organization or government. And although bitcoin’s volatility was previously high, it has recently become more stable than the currencies of many countries around the world. When asked about his opinion on cryptocurrency, the mayor of Chicago replied that it was not entirely his competence, but “trend lines clearly confirm the development.” It should be noted that Chicago has become one of the leading cities in the United States in the field of blockchain and cryptocurrencies. It was the Chicago exchanges CME and CBOE that first launched bitcoin futures.