Although the price of Bitcoin is currently fluctuating, it is nonetheless gaining a wider adoption throughout almost every part of the world. From an administrative perspective, different governments are making legislation regarding its adoption. For instance, the Indian government is against it, while El-Salvador made it a legal tender.
The latest development now is about the Mayor of Cool Valley, in the person of Jayson Stewart, who wants his city to leverage the potential of Bitcoin. Cool Valley is quite a small village in Missouri.
Mayor Jayson claimed he doesn’t only want the small village to be wealthy, but also its inhabitants. Thus, he is planning to give every household some fractions of Bitcoin that are worth between $500 and $1000.
Although some of his plans in implementing this are quite unclear at the moment, the Mayor proposed that this distribution will start before the end of the year.
According to Mayor Jayson, he remarked to have experienced a lot of changed lives. Some of whom were working in the traditional 9-5 space, but are now worth more than $80,000 million dollars within a few years of investment. Relying on these testimonies, he wants his village to benefit from Bitcoin as well.
Regarding where he would get fund to carry out this project, Mayor Jayson said he would get this from two, or possibly three ways:
The first consists of donors who are ready to support with millions of dollars. The second means is through the possibility of getting some government funds. While the last possible means is money from the Covid-19 relief funds.
Without prejudice to his statements so far, Mayor Jayson however put a condition for the villagers’ acquisition of Bitcoin. He claimed the government is finding a way to ensure that the villagers hold it for at least five years.
Quoting him, the reason for this is so that they won’t regret when Bitcoin eventually hits $500k in the coming years. He said this with the notion that HODLers enjoy crypto at the long-run.