Missouri Mayor Plans To Give Over $1M In BTC To Residents

It has been announced by Cool Valley’s (a city in Missouri State) mayor that he was thinking about providing roughly $1M value of BTC to the total 1,500 residents of the city. While appearing in an interview conducted by KSDK, a news outlet in St. Louis, Jayson Stewart (the mayor) stated that he desired that each of the city’s households should be given a certain amount of Bitcoin. He added that the donors for providing the funds would be seemingly much supportive; however, he did not exclude the revenue given by the relief funds of the government for countering the pandemic for the launch of this project.

The per-head share of BTC (Bitcoin) was not mentioned by the mayor. Nonetheless, the total amount was specified to count up to $1,000, which is more than 30 BTC. He also signalled that the funds might demand the residents to HODL (holding them without using) for up to 5 years. He further said that he is very much concerned about people utilizing their BTC for their routine payments. He opined that people would be feeling for not trading Bitcoin for the recent years when its price was very low as now it stands at $500,000 and even it will rise above this position in the future.

He recommended that BTC is the most suitable method to deal with the fundamental requirements of everyone; therefore, everyone who knows how to utilize it should be provided with it. The initiative taken by Jayson Stewart resembles that suggested by a contender of the United States presidential election of 2020 called Andrew Yang. He was in favour of $1,000 to every American every month as a UBI (universal basic income). He was not nominated by the Democratic Party, but the UBI remained frequent in the spotlight of media and got likely strong support.

The authorities from the other cities of the U.S. are also tending towards crypto favouring policy. The mayor of Miami, Francis Suarez (working since 2017), has suggested that the residents should be permitted to remit their taxes through using Bitcoin. He also mentioned that he was targeting to incorporate the laws for cryptocurrency that would assist in its further progress. The present records of the coin are also indicating it expanded up to $49,000 recently today.