![Miami mayor launches bitcoin yield for citizens Miami mayor launches bitcoin yield for citizens](https://www.tomshw.it/images/images/2021/05/foto-generiche-164684.768x432.jpg)
Since its inception, MiamiCoin has generated $ 20 million in rewards for the city in three months. Suarez stated that a portion of these funds, about $ 15 million, would be used to create a yield that would be paid in bitcoin and these coins would be distributed to the residents of the city. He noted that through this program, residents would receive bitcoin in their digital wallets, which would increase in value against the dollar, the value of which is depreciating due to rising inflation.
Suarez is one of the major advocates of cryptocurrencies. After being re-elected to office, he stated that he would receive his first salary entirely in bitcoin, and this announcement was later supported by New York City Mayor Eric Adams, who also agreed to receive his salary in. bitcoin. Due to Miami's progressive crypto framework, the city has attracted major tech companies. Nearly $ 1 million in venture capital flew into this city this year. Miami also held the bitcoin conference earlier this year.