Missouri Cool Valley City Mayor Jayson Stewart will give away free Bitcoin to all citizens. The giveaway will take effect only if they don’t sell the currencies for several years.
The mayor of a small town in Missouri, in the west-central United States of America, wants to be the first mayor to distribute bitcoins to all his citizens.
Jayson Stewart, the mayor of Cool Valley in Missouri, announced his desire to give USD 500 and $ 1,000 to all the citizens in the town. In an interview with news outlet KSDK, Stewart revealed that he is raising funds to make the crypto rewards initiative happen.
Mayor Stewart revealed that he hopes to release his Bitcoin project before the year ends and is considering some potential sources to achieve it.
The mayor said he counts on some supportive donors who have agreed to match any money he could raise to several million dollars. The mayor is trying to get some government funding to go along with that. Or possibly part of the aid money that comes from the Covid relief.
Bitcoin for Everyone, but on one Condition
Stewart expressed that the initiative will make not only the city of Missouri richer but also its residents. He thinks Cool Valley would get richer and flourish financially, not just the city but the people who live there.
In addition, he did not rule out the possibility that part of the funds to finance the project could come from the city treasury.
The Bitcoin check project does not seem entirely impossible, considering that the city has an approximate number of 1,500 inhabitants. However, there is a catch: Stewart doesn’t want people to sell their profit in Bitcoin, at least for a few years.
In Stewart’s view, a small stash of cryptocurrency can be transformative. His idea is that people can count on Bitcoin as a source of long-term savings and investment. The mayor highlighted in this regard is his belief that cryptocurrency will continue to increase in price over the years.
The mayor discussed that citizens would regret using their Bitcoin today to pay their car fees only to see them grow later. When Bitcoin hits about $ 500,000 all these years later, they will regret it.
Cities in the US Distribute Cryptocurrencies
Stewart, who describes himself as an entrepreneur and environmentalist, had called Bitcoin digital gold. He also announced that he plans to enhance the city’s energy with renewable sources. This decision became a matter of growing interest among the bitcoin community. Like all the lights of the government and things like that, he said.
Until now, nobody has determined how the Bitcoin funds will meet their distribution to residents, but Stewart suggested knocking on doors and offering free classes to townspeople on how to use and store digital currencies. Many citizens had shown enthusiasm on the matter.
By: Jenson Nuñez
