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Despite $424.8 Million Loss - MicroStrategy commits to Bitcoin

Despite $424.8 Million Loss – MicroStrategy commits to Bitcoin

With the Miami Coin project, Mayor Francis Suarez is confirming his reputation as a major cryptocurrency custodian in the US state of Florida.

The mayor of Miami, Francis Suarez, has long been known to be a big friend of cryptocurrency. Recently Listed Mining Companies to Florida. Now speaking in appearance in Fox-Sendung “Varney & Co.” Via MiamiCoin, the city’s latest cryptocurrency initiative. Suarez declared that this initiative “will characterize the city’s economy by creating a new wave of technological products”.

MiamiCoin is based on the principle of City Coins, which in turn is based on stacking. The Stacks ecosystem consists of independent companies, developers, and community members working to build a user-controlled internet on Bitcoin, as well as enabling Bitcoin staking. So with this project, there’s a new way for the city to potentially raise money. And Mayor Suarez is wholeheartedly behind the project:

Miami City Can Make Millions of Dollars from MiamiCoin’s Popularity […]. We are focused on distinguishing our economy by designing a new wave of technology products that will motivate people to move to Miami and become part of our technology ecosystem.

30% of MiamiCoin goes to infrastructure

Every time MiamiCoin is mined, 30 percent of it goes to the city of Miami, according to Suarez. Miners keep 70 percent. The mayor hopes the city will benefit from the use of MiamiCoin and associated brands. Income should flow into public funds in favor of more crypto ventures thus creating a win-win situation.