Jayson Stewart, the mayor, is raising funds to offer each resident up to $1000 in Bitcoin.
Cool Valley Mayor Jayson Stewart says he is seeking funds to give each of the town’s roughly 1500 residents a piece of the digital currency.Cool Valley Mayor Jayson Stewart says he is seeking funds to give each of the town’s roughly 1500 residents a piece of the digital currency.
A tiny Missouri town could become the first in the country to put Bitcoin in the hands of every resident.
“My daughter believes it is the next great thing. “The digital currency,” said Ramona Nickels, a Cool Valley mail carrier.
Mayor Stewart said, “Look, it’s digital gold.” “I want every single household in my city to receive some amount of Bitcoin, whether it’s $500 or $1,000.”
El Salvador has become the first country in the world to recognise Bitcoin as legal money. It was a precautionary measure taken to preserve the country’s economy from rapidly growing inflation rates.
Stewart believes that having the digital currency might be transformative in Cool Valley.
“I have friends whose lives have been dramatically transformed, such as going from working a typical nine-to-five job to being worth over 80 million dollars in a matter of years,” Stewart, an entrepreneur and environmentalist, said.
The majority of the funds for the scheme would come from numerous anonymous Bitcoin investors, according to Stewart.