Miami Mayor Francis Suarez has announced that he is planning a “Bitcoin yield” for residents of the city.
The initiative is one of several moves Suarez has made this year to promote Miami as a crypto and blockchain hub, and is part of the city’s plans to become the largest crypto hub in the United States.
Miami has raised more than $21 million after launching its own cryptocurrency, MiamiCoin, earlier this year.
Mayor Suarez announced that if this income becomes annual, it will amount to about one-fifth of Miami’s annual tax revenue.
The mayor said it would theoretically be possible to eliminate the need for city taxes if the city manages to multiply that figure by five.
Bitcoin will be earned with MiamiCoin!
Miami Municipality, which made great progress with their crypto money throws, detonated the real bomb.
Miami Mayor Francis Suarez explained in an interview with CoinDesk that the people of Miami can earn Bitcoin with MiamiCoin. If citizens stake MiamiCoin, they will be able to earn Bitcoin in return.
In this way, Miami Municipality, which wants to encourage the use of MiamiCoin, is sitting on the crypto money agenda with its breakthroughs every day.