Jayson Stewart, the mayor of Cool Valley, a small city in the US state of Missouri, began raising funds to deliver bitcoins to all residents of his city.
However, he doesn’t want them to sell their bitcoins right away, noting that when the price of the cryptocurrency is $ 500,000 per unit per coin years later, people will “really regret” selling.
Cool Valley is a small city in the United States, in the county of Saint Louis, Missouri, with a population of approximately 1,500 inhabitants. Mayor, Jayson Stewart, shared his plans Thursday in an interview with KSDK, an NBC-affiliated television station.
There he noted that he is raising funds to put bitcoin in the hands of all the inhabitants of the city, the mayor said: “It is digital gold. I would like every household in my city to receive some level of bitcoins, whether it be USD 500 or USD 1,000. ”
He also stated: “I have friends whose lives have completely changed, like going from having a regular nine to five job to being worth more than $ 80 million in just a few years.”.
On the other hand, Stewart expressed: “I have some very supportive donors who have agreed to match the money I raised up to several million dollars.s. I’m also trying to get some funding from the government to go along with that, or potentially some of the relief money that comes from the Covid aid. “
For investors in cryptocurrencies, this is not a great news, since the United States is by far the main country to adopt cryptocurrencies.– In 2020 alone it generated over $ 4 billion in profit for BTC. China, as the second country in the ranking, generated a billion dollars.
When asked if city funds would also be used, the mayor replied: “It is possible. We’ll see how it goes “, however, the mayor does not want residents to sell their bitcoins shortly after receiving them. To prevent this from happening, he said: “We are implementing a bitcoin allotment schedule. The idea is that you might not touch it for five years before you really have full access. ” Mayor Stewart clarified: “We are working on ideas like that because that is my main concern. If someone just sells their bitcoin to pay for their car note, and then when bitcoin is around $ 500,000 all these years later, they will really regret it. “
This is not the first time that the United States has supported the growth of the crypto world. The municipality of Miami was a pioneer in that country, approving a project promoted by the mayor Francis Suarez, in February of this year, so that public employees can choose to collect part of their salary in cryptocurrency and neighbors can use it for some payments
Cool Valley residents were asked about their opinion of the mayor’s bitcoin idea. While some of them had never heard of bitcoins or cryptocurrencies, they seem receptive to the plan.
Ramona Nickels, who works in the postal service in Cool Valley, said: “My daughter says that she thinks that it is the next big thing, the digital currency… With cash people have bad habits and they buy things that they should not buy. But with bitcoin, maybe you can give it to your kids. My daughter is going to college next year. I could give you bitcoin. “
“Putting money in my pocket sounds pretty good to me,” he said. Cornelius Webb, another Cool Valley resident.
Mayor Stewart opined: “I think Cool Valley will get richer and richer, not just in our city, but in the people who live here as well.”
Addressing the environmental concerns that some people associate with bitcoin, Mayor Stewart said his city will take proactive steps to offset the known environmental impact of the cryptocurrency. “We are giving away bitcoins and at the same time we are converting our entire city into solar energy, like all the government lights and things like that,” he described.
The mayor also spoke about some of the plans to familiarize residents with cryptocurrencies, including offering free classes on how to safely use and store bitcoin. Stewart hopes to start by the end of the year. Meanwhile, some cities in the US are trying to become hubs for bitcoins, such as Miami, Florida and Jackson, Tennessee. The mayors of the two cities are trying to get their local governments to accept bitcoins for payments and potentially keep BTC on their balance sheets.