Mayor Jayson Stewart of Cool Valley, a small Missouri town in the Midwest, is giving a signal that he has a good understanding of how bitcoin (BTC) works. He has a plan to give out at least USD 1,000 in cryptocurrency for free to the 1,500 inhabitants of the town.
“Bitcoin is digital gold, so I would love to see every household in my city receive a little bit of BTC, whether it’s USD 500 or USD 1,000 ”, said Stewart when giving an interview to the local outlet KDSK news .
The mayor hopes to launch its social project with bitcoin at the end of the year , but it all depends on the support it receives from investors. Although he does not rule out using the emergency aid that the US government is allocating for this purpose in connection with the pandemic.
I have several sponsors who are helping me a lot to complete the money I am raising with several million dollars. I’m also trying to get some government funding.
Jayson Stewart, Mayor of Cool Valley.
A plan to hold bitcoin, without spending
Stewart’s plan is to encourage residents of Cool Valley to become holders and keep the bitcoin allocation they receive for free, for at least five years .
In his opinion, citizens would “really regret it” if they used their free bitcoin today to make smaller payments. They believe that everything can change for them if the price of the cryptocurrency shoots up and reaches $ 500,000 in the future.
For now, you do not have a clear plan of how the funds will be distributed. Suggests the possibility of visiting residents door to door to offer them some free education on the use and saving with BTC.
The proposal of the public official is not entirely far-fetched if taken Note that bitcoin was considered in 2019 as the asset of the previous decade. As reported by CriptoNoticias at the time, a Bank of America Merrill Lynch analysis highlights bitcoin as the best performing asset of the last 10 years , above stocks, bonds, commodities and fiat currencies from around the world.
It means then that, if the inhabitants of Cool Valley learn to save in BTC, their lives may change in the estimated period by Stewart who is about five years old.
«I think Cool Valley will get richer and richer, not only in our city, but also in the people who live here, ”said Stewart.
