Miami’s Mayor is trying their best to bring bitcoin in the hands of their residents with the help of Miami coin revenue.
The current situation in America is trying to force politicians toward the adoption of the crypto industry.
In August of this year, Citycoins launched the MiamiCoin. The main aim of MiamiCoin is to generate funds to help the municipal projects of Miami city.
Miami Mayor Francis Suarez stated that every citizen of Miami will be eligible to get free bitcoin as a part of the bitcoin dividend by government officials.
In the interview on 11 November, Mayor stated
“We’re going to be the very first city in America to give Bitcoin yield as a dividend directly to its residents,”
It is worth it to note, Miami citizens don’t need to hold Miami coins to be eligible to get a free bitcoin reward.
As per reports, staking the Miami coin generated around 21 million and now this fund will be used by the government authority to swap into dollars.
Miami’s Mayor also said that their goal is only to get Bitcoin into the hands of more and more people.
Mayor also asserted that if the Miami coin will generate revenue at the same rate then there are huge chances that yield may cover the whole tax needs of the city.
This was an indication of the Miami Mayor that they can make their city almost tax free with the adoption of crypto.
This is not the first time, When, Suarez has tried to push the adoption of Bitcoin. Earlier this, Suarez and Eric Adams announced that they will convert their next paychecks in Bitcoin.