Miami will have its own cryptocurrency, the MiamiCoin

Miami will have its own cryptocurrency the MiamiCoin

Miami wants to become this August the first city to market its own virtual currency, MiamiCoin, a cryptocurrency that, according to the official website, CityCoins, aims to support the projects of the “Magic City” while benefiting its holders.

Buying this virtual currency is a “way to support your city and grow your crypto treasury while getting a return on Bitcoin BTC and Stacks STX,” explains CityCoins on its website.

Although the Mayor of Miami is not associated with this initiative, its councilor, Francis Suárez, has shown himself as an enthusiastic defender of cryptocurrencies and bitcoin in this city in South Florida.

In June, on the occasion of the Bitcoin 2021 conference in Miami, Suárez said he was very happy that his city was chosen to succeed Los Angeles as the venue for the conference and commented that for months “an unprecedented amount of companies, tech, and investors’ had chosen her to move in.

In this ecosystem of the global digital economy, Miami wants to become the new Silicon Valley, with the city’s ruler as the catalyst for the paradigm of financial freedom, innovation and new products and services.

According to a report by Newsweek magazine, Suárez has stated that “the city of Miami could end up earning millions of dollars as a result of the popularity of MiamiCoin, because Miami has become the world capital of Bitcoin.”

According to CityCoins, the cryptocurrency will be powered by Stacks, a protocol that enables smart contracts on the Bitcoin network.