Miami Will Start Giving Some of Its Residents Free Bitcoin: Mayor Suarez

Miami Mayor Francis Suarez has again raised the stakes as to which city in the U.S. will become the country's crypto hub. From a report: Suarez announced today on CoinDesk TV that the city would be staking (i.e. locking up cryptocurrencies to earn yield) a large portion of its native cryptocurrency, MiamiCoin, to earn yield in Bitcoin. What's more, he said Miami will be "the first city in America to give a Bitcoin yield as a dividend directly to its residents." Previously, only holders of MiamiCoin could earn any kind of crypto return, be it STX, the native cryptocurrency for the Stacks protocol on which MiamiCoin is built, or Bitcoin. Now, according to today's announcement, residents will be given a Bitcoin wallet and receive free BTC regardless of whether they hold MiamiCoin or not.

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