Miami Mayor Francis Suarez said he will soon allow city residents to earn bitcoins through MiamiCoin steaming

Miami mayor will allow city residents to earn bitcoins

“We’re going to be the first city in America to provide its residents with bitcoin income as a dividend.”

📌 The yield comes from the steaming of the city’s own cryptocurrency, MiamiCoin, which was created earlier this year and has generated more than $21 million in revenue for Miami in the past three months.

📌 Suarez said that if you take those revenues out on an annualized basis, they would amount to about one-fifth of Miami’s total annual tax revenue of $400 million.

📌 According to the mayor, the payment will be made through a digital wallet, and the city will work with various cryptocurrency exchanges.

Suarez promised that this approach would eliminate the need for Miami residents to pay taxes, which is revolutionary.