- Jayson Stewart – Mayor of Cool Valley, Missouri – wants each resident to #HODL Bitcoin for at least 5 years.
- He is raising funds to give each of the town’s roughly 1500 inhabitants a piece of the costliest digital currency.
- The value of Bitcoin is expected to grow exponentially in the next decade. This makes it an ideal way to grow wealth and beat inflation, just like gold. That’s why Bitcoin is considered by many as ‘Digital Gold’.
Mayor of Cool Valley, Missouri plans to give each resident up to US$1000 in Bitcoin, KSDK reports.
Cool Valley is a city in St. Louis County, Missouri, United States in Greater St. Louis.
Jayson Stewart, the Mayor of Cool Valley says he is raising funds to give each of the town’s roughly 1500 inhabitants a piece of the costliest digital currency.
Bitcoin A Hedge Against Inflation
Recently El Salvador became the first country in the world to adopt Bitcoin as a legal tender. El Salvador is hoping to increase financial inclusion and save commission on remittances.
In general, the value of Bitcoin is expected to grow exponentially in the next decade. This makes Bitcoin an ideal way to grow wealth and beat inflation, just like gold. Bitcoin is considered by many as ‘Digital Gold’.
Jayson Wants Residents To HODL Their Bitcoin For 5 Years
Jayson Stewart has petitioned to give each resident up to US$1,000 in Bitcoin.
“I would like to see every single household in my city receive some level of Bitcoin, whether it be US$500 or US$1,000,” stated Jayson Stewart.
But, the deal comes with a catch. The residents can’t sell it. The Cool Valley mayor wants the residents to HODL their Bitcoin to reap the real benefit of this new currency.
“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,” stated Stewart. “My number one concern is someone sells their Bitcoin … when it’s at US$500K, they’re going to really regret that.”
Residents of a little-known Missouri city Cool Valley could become the first in the United States to dole out cryptocurrency to its residents. If everything goes as planned, the residents would receive their free Bitcoin by the end of this year.