In Brief: –
- Cool Valley Mayor is raising funds to give every resident up to $1000 worth of bitcoin.
- The residents get bitcoin but are unable to sell for a few years.
Jayson Stewart, the Mayor of Missouri, Cool Valley, is raising funds to give each resident, roughly 1500 residents, $1,000 in Bitcoin. A tiny Missouri town could become the first in the country to put Bitcoin in the hands of every resident.
“I would like to see every single household in my city receive some level of Bitcoin, whether it be $500 or $1000,” Stewart told KSDK. “Look, it’s digital gold.”
A mail carrier in the town, Ramona Nickels, said that her daughter “thinks it’s the next big thing. The digital currency. With cash people have bad habits.”
Stewart thinks that holding digital currency could transform the town substantially in the coming years. “I have friends whose lives have been completely changed, like going from working a regular nine to five job to being worth over 80 million dollars in a matter of a few years,” the mayor says.
Moreover, Mayor Stewart remains determined to see through his ambitious aim.
“I have some very supportive donors who have agreed to match any money that I raise up to several millions of dollars. I’m trying to get a few government funds as well as to go along with that. Or potentially some of the relief money that comes in from the Covid relief.”
The plan is still in the works. There are no further details on how the mayor thinks to distribute the Bitcoin.
HODL Bitcoin
Cool Valley residents could soon receive free Bitcoin, but president doesn’t want residents to sell it for a few years.
“We’re putting in place like a vesting schedule for Bitcoin,” Mayor said. “The idea is that maybe you don’t touch it for five years before you really get full across to it. My number one concern is that someone just sells their bitcoin to pay their car note. And then when bitcoin is sitting at like $500,000 all these years later, they’re going to really regret that.”
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“I believe that Cool Valley is going to get wealthier and Wealthier, not just our city, but the actual people who live here,” said Stewart.
Stewart concluded last and said, “it will involve door knocking and offering free classes to residents about how to use and securely store Bitcoin”. He hopes to kick things off by the end of the year.
