Posts

What's Do You Think About The Mayor of Miami Giving Free Bitcoin to Its Residents?

avatar of @onwugbenuvictor
25
Onwvugbenu Victor
@onwugbenuvictor
·
·
0 views
·
2 min read

This news this about Miami Mayor Francis Suarez giving his residents free Bitcoin, Is really a game changer and will bring in more people into Bitcoin, a lot more awareness that could come from this project and become a bullish move for Bitcoin, although Bitcoin is correcting since it hit $69k All time high some time this week, but there are some things to consider in my opinion, like how would they know exactly who's a residents of Miami, Mayor Suarez said in the interview that they are working on that part so people won't just pose to be residents of Miami to get the Bitcoin wallet and free Bitcoin, and his government is working with some major exchange to make the wallets available, he also said the city residents can pay for taxes in Bitcoin just like El Salvador.

Mayor Suarez has been bullish on Bitcoin, for some time now and has always wanted Miami to be the Crypto Hub in the United States of America, and by the look of things once this goes through, he will get his wish.

How it is going to work, that will make it possible for the residents to get this free Bitcoin

Mayor Suarez will be staking or locking up it native token of the city of MiamiCoin to earn profit or yield in Bitcoin, he announced this today while talking with Coindesk TV.

In his own words Miami will be “the first city in America to give a Bitcoin yield as a dividend directly to its residents.”

He also said “We’re going to create digital wallets for our residents,” said Suarez. “And we’re going to give them [some] Bitcoin directly from the yield of MiamiCoin.”

https://m.youtube.com/watch?v=5-AolMVDrFk

The interview with Mayor Suarez

The city of miami have attracted major exchange's like Blockchain.com and major sponsorship from FTX, also have the largest Bitcoin conference to move from Los Angeles to Miami.

The only criteria to receive this free Bitcoin, is to be a Miami city residents, you don't need to hold any MiamiCoin. Mayor Suarez said The funds received in exchange for the crypto are diverted to the city’s treasury, and so far, Miami has already generated $21 million since MiamiCoin launched, according to him.

Thanks guys for reading and visiting my Blog

Posted Using LeoFinance Beta