Cool Valley Mayor will give $1,000 in Bitcoin to each household
Jayson Stewart, the mayor of the small town of Cool Valley, Missouri, intends to give $1,000 in Bitcoin to each household. In addition, the airdrop is set to include the necessary education. Thus, the 1,500 residents will be taught how to use their wallets and get started with cryptocurrencies and will also be encouraged to hold the coins that they will receive. The Cool Valley mayor said, “A lot of it is about fixing the wrongs of the past financial system. In the past, we didn’t have access to this amazing technology that we have today when it comes to our financial system and storing our value.”
In a recent interview, Mayor Jayson Stewart added:
“What really excites me, and what I’m working on, is getting regular people to hold Bitcoin and for them to benefit from the appreciation of holding an asset like that.”
The Cool Valley mayor went viral about a month ago when he announced plans to do just that. “I have some very supportive donors who have agreed to match any money that I raise to several millions of dollars,” he said at the time, according to KSDK. And the strategy worked so well that Steward now has all the funds he needs and even more than that. At this point, it should come as no surprise that the Internet has this kind of power.
Will the Cool Valley residents HODL the coins they receive?
Although the process of distributing the coins is not yet clear, it seems that they have decided to let people spend it if they want. At first, however, that was not the case. A month ago, the mayor of Cool Valley told KSDK: “We’re putting in a place like a vesting schedule for Bitcoin. The idea is that maybe you don’t touch it for five years before you get full access to it. We’re working on ideas like that because that’s my number one concern,”
Now the plan is to give Cool Valley residents an incentive for holding their cryptos. This is much more in line with the Bitcoin philosophy. Recipients will receive an as-yet-unspecified bonus if they do or accept less BTC if they decide to sell. This brings to mind the 2014 experiment at MIT, which had positive results and triggered several careers in cryptocurrencies.
“The story got so popular in a way that I never anticipated,” the Cool Valley mayor said in a recent interview. Steward intends to use the excess to turn government lights into solar electricity and fund other green projects, as they have received more donations than they had anticipated.
Bringing Bitcoin to Missouri
Stewart recently joined the Midwest BankCenter Advisory Board. This is a locally owned bank with assets of nearly $2 billion. On the same page, he added that he hopes to see a Bitcoin-friendly bank in the town soon.
Is Stewart trying to follow in the footsteps of Nayib Bukele? El Salvador’s president’s decision to make Bitcoin an official currency has brought a lot of new companies to the crypto markets and the experiment is just beginning. According to reports, Cool Valley already has a Bitcoin ATM. El Zonte started with a single ATM and individual donations. Is there another step in the process of getting the world to be more crypto-friendly? Only time will tell.
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