A Missouri mayor has pledged to give $1,000 worth of bitcoin to every household in his city.
Cool Valley Mayor Jason Stewart believes that cryptocurrencies can bring about social change and address many of the inherent flaws in the current economic system.
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“[Bitcoin] They have given me a hope, and an optimism, that we can overcome some of the worst parts of the system we are born in, and really create a future as we want it to be,” he told Bitcoin Magazine.
“Bitcoin gives me a certain level of hope and optimism. Bitcoin is fundamentally American. It’s the most American thing. Our government is built on liberty and individual liberty, and rights and self-sovereignty, and all those things that bitcoin It’s actually. I think it’s a natural marriage that bitcoin will thrive in America.”
The Missouri city has a population of about 1,500, with the project already funded for $1,000 per household.
The plan was initially to broadcast $500 but the amount was increased due to the popularity of the plan. Recipients will be able to redeem their crypto, although anyone who holds it longer could receive a larger payment.
This echoes a similar initiative this week by the president of El Salvador designed to encourage cryptocurrency adoption.
Bitcoin officially became legal tender in the Central American country earlier this month, offering all citizens $30 worth of free cryptocurrency via a digital wallet app that they could download to their phones. .
On Wednesday, President Nayib Bukele announced that anyone using the wallet to pay for fuel with bitcoin Now $0.20 off On every gallon they buy.
Credit: www.independent.co.uk /