There could soon be a “bitcoin yield“ for Miami residents. Mayor Francis Suarez announced today on CoinDesk TV that MiamiCoin, the city’s cryptocurrency, will share some of its gains with residents by distributing payments through digital wallets.
“We’re going to be the first city in America to give a bitcoin yield as a dividend directly to its residents,” Suarez said. The reported dividend will come from MiamiCoin, a separate cryptocurrency from Bitcoin, which uses the Stacks blockchain. Some of the MiamiCoin supply will also be distributed to city governments. MiamiCoin is the first ‘CityCoin,’ which will eventually add tokens for New York City and Austin.
Miami’s Mayor has always been a big supporter of Bitcoin.
Recently, he shared that he would be accepting his salary in Bitcoin. Other city mayors, like Scott Conger (Jackson, Tennessee) and Jane Castor (mayor of Tampa, Florida), are also trying to make their cities Bitcoin hubs.
New York City mayor-elect Eric Adams said he thought crypto should be taught in schools.