Miami could start paying Bitcoin dividends to residents that open crypto wallets

Posted at 4:44 PM, Nov 11, 2021
and last updated 2021-11-11 21:27:17-05

Miami Mayor Francis Suarez said the city has plans to become the first city in the country to give a bitcoin yield to residents.

"We're going to be the first city in America to give a bitcoin yield as a dividend directly to its residents," Suarez said.

On Thursday, Suarez said MiamiCoin has already earned $21 million in just over three months, and said it's possible that if it continues to perform it could cover Miami's entire tax revenue.

"You could theoretically at one point pay the entire tax revenue of the city and the city could be a city that runs without taxes, which I think would be revolutionary," Suarez said in the interview.

Earlier in November, Suarez said he would take his next paycheck in Bitcoin

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