Cool Valley, Missouri Mayor Wants To Give Each Resident $1k in Bitcoin

Mayor Jayson Stewart said he wants to give each Missouri resident $1,000 in Bitcoin (BTC). But the offer comes with a catch. They need to hodl for 5 years.

During an interview with KSDK, Mayor Jayson Stewart said he is raising funds to give each resident up to $1000 in Bitcoin. So, if this happens, Missouri town could become the first town in the US to give out crypto.

In addition, Stewart also stated that Missouri would provide free classes to residents. More so, they will teach them how to use and store crypto securely. But the deal comes with a condition. Residents who join in the program can not trade the crypto for “a few years.”

In the interview, Stewart noted that holding digital currency could reconstruct the town largely in years to come. Mayor Jayson Stewart thinks digital currency is like digital gold. He highlighted,

“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.”

As he continues, he added that many Bitcoin investors would donate the capital to fund the project. “I have some very supportive donors who have agreed to match any money that I raise up to several millions of dollars,” says Stewart.

Further, he emphasized that he would like to see every Missouri resident get some level of Bitcoin, whether it is $500 or $1,000.

In addition, the condition is because Stewart is concerned that some people will directly sell their coins to pay off some other useless needs. He noted, “And then when Bitcoin is sitting at like $500,000 all these years later, they’re going to regret that”