Recently, Jayson Stewart, the Mayor of Cool Valley, which is in the U.S. state of Missouri, said that he hopes to give every resident of his town $1,000 worth of Bitcoin on a vesting schedule.
According to an article by Decrypt (based on a report by local media outlet KSDK News), Mayor Jayson Stewart plans to give each of Cool Valley’s 1,500 residents $1,000 worth of Bitcoin via a vesting schedule, which means that they will be unable to sell for several years.
Stewart called Bitcoin “digital gold,” and said he would like to see every household in his town receive some level of BTC between $500 and $1,000. Stewart told KSDK that he had a number of supportive donors who had agreed to match any money he could raise for the program up to millions of dollars.
The mayor said he was attempting to pay for the program with government funds and could potentially rely upon relief money via the COVID relief program. He also opened the door to using the town’s taxpayers to foot the bill, saying it was “possible.”
Stewart said the free Bitcoin would be placed in a vesting schedule, with the idea that recipients would be unable to touch it for five years or more.
Cool Valley resident Ramon Nickels, commenting on the proposed Bitcoin program, told KSDK,
My daughter says she thinks it’s the next big thing. The digital currency.
Stewart does not yet have a plan for how the funds will be distributed to residents, but suggested a program of going door-to-door to offer free classes on Bitcoin.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.