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Aug 20, 2021
by Sahaj Sharma
Missouri Mayor Jayson Stewart Raises Funds to Give Every Resident Bitcoin Worth $1,000
Jayson Stewart, the Mayor of Cool Valley, Missouri, has recently disclosed his plans to give bitcoins worth $1,000 to all 1,500 residents in the town. Moreover, the Mayor is even considering using the city's funds for proving some bitcoins to residents, and that is something never been done till now.
Jayson Stewart of Missouri Plans to give Bitcoin to Every Resident
The news was shared with KSDK, a local news outlet, by the Mayor of Cool Valley, Missouri, Jayson Stewart, which reads:
"Look, it’s digital gold. I would like to see every single household in my city receive some level of Bitcoin, whether it be $500 or $1,000."
Further, it has been revealed that there are plans and hopes of Missouri Mayor Jayson Stewart to introduce his Bitcoin project by the end of this year, while also looking forward to a number of capable sources.
Mentioning that he has some donors on his list, Jayson said:
"I have some very supportive donors who have agreed to match any money that I raise up to several millions of dollars. I’m trying to get a few government funds to go along with that. Or potentially some of the relief money that comes in from the Covid relief."
He even said that if needed, he will be using the city’s funds to execute his project:
“It’s possible. We’ll see how it goes."
Bitcoin’s Use and Distribution, Details Regarding Vesting Schedule
Well, though the citizens will be getting free of cost Bitcoins, they won’t be allowed to sell them for at least five years. He said:
"We’re putting in place, like a vesting schedule for Bitcoin. "The idea is that maybe you don’t touch it for five years before you really get full access to it."
In addition to this, he addressed the fact that people are definitely going to regret using Bitcoin today to pay off their car payments only to witness the time when Bitcoin will be sitting at like $500,000 all these years later.
Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Sahaj is an aspiring journalist with a keen interest in cryptocurrency and the whole concept of Blockchain technology. He is positive about the future potential of Cryptocurrency and Blockchain in shaping the world of finance for good. At present, he is covering the latest developments in the field of the cryptosphere.