Loading...

Loading...

The city council of Santa Monica announced the opening of a Bitcoin BTC/USD Office in an effort to boost mainstream adoption of the digital currency What Happened: Led by Vice Mayor Lana Negrete, the city council unanimously voted to establish the Bitcoin Office in partnership with the non-profit organization Proof of Workforce.  The council said that the move will help educate the residents about Bitcoin and "seek opportunities" for economic benefits.  California’s Santa Monica is the first U.S. city to open an official Bitcoin office. Proof of Workforce is an entity involved in education-based Bitcoin adoption, helping unions, workers, and communities understand the usefulness of the world's largest digital asset. 

In fact, Dom Bei, the founder of the organization, is from Santa Monica. He used to work as a firefighter and supported the union in the self-custody of Bitcoin. See Also: Jack Dorsey’s Block Makes Historic Bitcoin Mining Chip Sale To Core Scientific: ‘Our First Mining Chip Customer!’ Why It Matters: The announcement of a Bitcoin Office in Santa Monica follows a similar move by El Salvador, a country that has gained global attention due to Nayib Bukele‘s pro-Bitcoin policies.  In fact, the official X account of El Salvador's Bitcoin Office congratulated the city council on the development and revealed that the Vice Mayor visited them last year to discuss Bitcoin education activities.  Price Action: At the time of writing, Bitcoin was exchanging hands at $58,130.89, down 1.02% in the last 24 hours, according to data from Benzinga Pro.  Read Next: 

‘Rich Dad Poor Dad’ Author Robert Kiyosaki Bats For Bitcoin Even As His $350K Prediction For August Seems Out Of Reach: Can Transform A ‘Bad Hand’ Into Good

Image Generated Using Dall-E 3

Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.