Miami Mayor Francis Suarez announced via Twitter that MiamiCoin Wallet had earned $1 million in a single day, with the balance exceeding $9 million at press time.
MiamiCoin Wallet was founded with the goal of collecting city funds without taxing residents and rewarding investors. Additionally, the mayor earlier stated that the city will not require “private sector generosity,” while adding, “When you consider the prospect of running a government without requiring citizens to pay taxes. That is astounding.”
Suarez has long been a proponent of cryptocurrency, having advocated for legislation allowing employees to be paid in Bitcoin. Additionally, he has been advocating for the acceptance of Bitcoin for tax and fee payments. In a recent interview, Miami Mayor Carlos Gimenez stated,
“We’re ecstatic about, you know, government, innovation, and the mainstreaming of technology, which involved so many people…” Suarez stated that he is fascinated by the “mathematics” of decentralized technology and thinks that Bitcoin has the potential to resolve the issue of government corruption. Despite said that, the mayor was also exploiting the China embargo. As he stated, “This is a massive geopolitical strategic opportunity for the US.”
Concentrating on the US mining hub, a recent report indicated that Florida Power & Light, a Miami-based nuclear power plant, was in talks to host mining rigs. As the Bitcoin hash rate had almost recovered to its pre-China ban levels, the mayor tweeted on miners shifting bases to the US. He stated that a significant portion of mining in the United States is now carried out by ESG-compliant carbon neutral companies. All the while, Suarez had already been pressing carbon-neutral mining in Miami. He had said,
“The fact that we have nuclear power means that it’s very inexpensive power.”
Suarez recently had said that his concerns about Bitcoin’s environmental effects stem from the fact that “most of the mining was done in coal-producing countries.”
Also Read: France’s Authorities Recently Warn Crypto Investors
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