Miami Mayor receives 100% of his paycheck in Bitcoin
Francis Suarez, the current Mayor of Miami, has declared that he would earn his whole salary in Bitcoin. As a result, he is the first sitting politician to do so. Previously, NFL players and other athletes accepted to collect partial or even full payment in Bitcoin, but never a sitting lawmaker.
The Mayor of Miami, Carlos Suarez, is striving to establish Miami as the first crypto city in the United States. He has recommended that clean Bitcoin mining facilities be built, as well as that government personnel be paid in BTC. He even considered investing the city's finances in Bitcoin at one time, but that proposal fell through.
Miami has become the world's first city to have its own native crypto coin. Miami Coin is a cryptocurrency that is built on top of the Bitcoin network and generates new coins every ten minutes. The revenue created from mining Miami coins would be used for the city's benefit.
As cryptocurrencies have gained popularity, politicians and municipal governments have begun experimenting with them in their current financial systems in an effort to become the crypto city of the future.
Several mayors in the United States have vowed to make their city a crypto center during their campaigns, but Miami appears to be years ahead at the moment. Florida, New York City, and a few other cities are attempting to replicate Miami's crypto success. State governments may now get greater traction for the crypto city as central governments take note of the crypto success.