Francis Saurez, the famous Bitcoin proponent mayor known for working hard towards making Miami a Bitcoin (BTC) hub in the nation recently made some statements that attracted many eyes. He is one of the earliest mayors who take his salary in Bitcoin and now has doubled down on his BTC take. He further added that he will also take a part of his 401K retirement fund in the king coin.
The city mayor is famous for bringing fresh Bitcoin-based innovation to the region. Saurez has even worked on bringing the first-ever city coin called Miami coin using Blockchain technology. Talking about his plans, he stated:
“I simply suppose it’s a good asset to be invested in. I believe it’s going to be understood over time. It’s one which I imagine.”
New York City followed Miami
Following the crypto-related positive actions by Miami, New York City is also attempting to follow a similar path, with the newly elected Mayor Eric Adams promising to make the city the next crypto hub. As TheCoinRise reported, New York City launched CityCoins as well.
With its crypto-compliant rules and promotion of Bitcoin use among the general public, Miami has set a precedent. Every 10 minutes, the Miami coin, which runs on the bitcoin network, generates new tokens. The cash raised would be put to good use in the community. The mayor recently declared that each resident would receive a digital wallet, with all proceeds going to the citizens. He stated:
“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 this, only the MiamiCoin holders had the privilege of earning different kinds of crypto returns but now, any resident can earn free Bitcoin regardless of being a MiamiCoin holder or not.