The mayor has also previously stated that the city will not require “private sector philanthropy” to function properly.
According to Miami Mayor Francis Suarez, who turned to Twitter to celebrate the success of MiamiCoin Wallet, which had earned one million dollars in a single day and had a balance that exceeded $9 million at press time.
While everyone today likes to focus on the negative and want to create conflict and division…We made 1 million dollars on Miami Coin…TODAY…think about that! https://t.co/Ycbwre6Wss— Mayor Francis Suarez (@FrancisSuarez) October 1, 2021
The MiamiCoin Wallet was created with the intention of collecting city revenue without imposing taxes on citizens while also rewarding investors.
The mayor has stated that the city will not require “private sector philanthropy,” while simultaneously noting,
“When you think about the possibility of being able to run a government without the citizens having to pay taxes. That’s incredible.”
As a crypto-advocate who has championed ideas to allow employees to be paid in Bitcoin for years, Suarez is well-known. Besides that, he has advocated for the acceptance of Bitcoin for the payment of tax and fees. The Mayor of Miami stated in a recent interview that;
“We’re so excited about, you know, government, innovating, and the mainstreaming of technology that so many people were involved in…”
Suarez expressed his admiration for the “mathematics” of decentralized technology and his belief that Bitcoin has the potential to tackle the problem of government corruption. In spite of this, though, the mayor was also attempting to profit from the China embargo. It was he who stated,
“It’s an enormous geopolitical strategic opportunity for the United States.”
Specifically referring to the mining center in the United States, a recent report stated that Florida Power & Light, a nuclear facility headquartered near Miami, was in discussions to host mining rigs. As the Bitcoin hash rate was on the verge of regaining its pre-China ban levels, the mayor of San Francisco tweeted about miners relocating their operations to the United States.
His statement stated that a substantially greater percentage of mining in the United States is being carried out by ESG-compliant carbon neutral firms.
Suarez, on the other hand, has been advocating for carbon-neutral mining in Miami. He has previously stated on CNBC,
“The fact that we have nuclear power means that it’s very inexpensive power.”
Concerns regarding Bitcoin’s environmental effect, according to Suarez, stem from the fact that much of the mining is taking place in coal-producing countries, as reported by the Wall Street Journal.