The mayor of Cool Valley, Missouri said he was exploring options to give more than $1 million in Bitcoin to the city’s 1,500 residents.
Mayor Jayson Stewart said he wanted to see every single household in the city to receive some level of Bitcoin. He said the funds would likely come from some very supportive donors but did not rule out using money from the government’s pandemic relief response to launch the venture. The mayor did not specify how much Bitcoin the city would be able to distribute to each resident, but suggested it could be any amount from $1,000 to roughly $1.5 million or more than 30 BTC at the time of publication
They mayors Bitcoin initiative is very similar to that proposed by Andrew Yang who was a candidate in the 2020 U.S. presidential election. Yang supported giving every American $1,000 a month in universal basic income or UBI. Lawmakers in other U.S. cities have also taken a pro-crypto policy stance. Francis Suarez, the mayor of Miami since 2017, has proposed allowing residents to pay taxes with Bitcoin and said he was aiming for the city to have the “most progressive crypto laws.”
