Miami Mayor Doubles Down on Bitcoin Investment, Reveals Retirement Plans

Miami mayor Francis Suarez is a well-known bitcoin proponent who has worked towards making the city a Bitcoin hub in the United States. The city mayor is known for bringing new bitcoin-based innovation to the city and even worked for bringing the first-ever city coin in the form of Miami coin.

Suarez was also among the first mayors to take his salary in Bitcoin and now he has doubled down on his BTC take and announced he will take a portion of his 401K retirement fund in the top cryptocurrency as well. He said,

“I simply suppose it’s a good asset to be invested in. I believe it’s going to understand over time. It’s one which I imagine in.”

Thank you Governor DeSantis for following Miami’s lead and welcoming crypto innovation and companies into Florida!

Now it’s your chance to take the lead as Governor and take your next paycheck in Bitcoin… @RonDeSantisFL you in? https://t.co/Zppp8DCiMe

— Mayor Francis Suarez (@FrancisSuarez) December 9, 2021

Following in the footsteps of Miami now New York City is looking to follow on a similar path with the newly elected Mayor promising to make it the next crypto hub as well.

Miami has set a benchmark with its crypto-compliant regulations and promoting Bitcoin use among the common public. The Miami coin that works on top of the bitcoin network yields new tokens every 10 minutes. The funds generated would be used for the welfare of the community. The Mayor recently announced each resident would get a digital wallet and proceeds would directly go towards the citizen.

“We’re going to create digital wallets for our residents. And we’re going to present them Bitcoin straight from the yield of MiamiCoin.”

Before now, only holders of MiamiCoin had the privilege of earning any kind of crypto return ( either STX — the native crypto for the Stacks protocol on which MiamiCoin is built, or Bitcoin. But now, going, residents can earn free BTC regardless of whether they hold MiamiCoin or not.

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Prashant Jha

An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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