MiamiCoin’s value continues to dip. Have you invested in this cryptocurrency? Write to us

By Joey Flechas and Forrest Milburn

Updated February 23, 2022 9:20 AM

Miami Mayor Francis Suarez speaks to reporters during a press conference at Miami City Hall on Wednesday, Nov. 3, 2021, the day after he was elected to a second term. Jose A Iglesias jiglesias@elnuevoherald.com

Since last year, Miami Mayor Francis Suarez has been promoting MiamiCoin, a cryptocurrency project branded with his city’s name and marketed as a way for crypto enthusiasts to support a city government and also reap their own financial rewards.

The mayor has touted MiamiCoin as an innovative revenue stream for the city, which recently received a gift of $5.25 million from the MiamiCoin protocol. But the value of MiamiCoin, like other cryptocurrencies, has been volatile. After initially shooting up to a peak value of nearly 6 cents, MiamiCoin’s value has steadily declined. This week, the value dropped to around four tenths of a cent – the same value as when MiamiCoin launched last fall. The value has dropped about 92.7% from its all-time high.

We want to hear from you if you’ve purchased or mined MiamiCoin. Tell us about your experience by filling out the submission form below, or click here.

This story was originally published February 22, 2022 at 1:41 PM.

Joey Flechas

Miami Herald

305-376-3602

Joey Flechas is an associate editor and enterprise reporter for the Herald. He previously covered government and public affairs in the city of Miami. He was part of the team that won the 2022 Pulitzer Prize for reporting on the collapse of a residential condo building in Surfside, FL. He won a Sunshine State award for revealing a Miami Beach political candidate’s ties to an illegal campaign donation. He graduated from the University of Florida. He joined the Herald in 2013.

Forrest Milburn

Miami Herald

Forrest is the senior audience growth and engagement producer on the audience team, where he cares deeply about building reader loyalty and community engagement. He comes to the Miami Herald from the University of Texas at Austin. He most recently worked on the audience team at The Washington Post; but his Texas roots run deep, interning at papers across the Lonestar State.

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