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The City of Santa Monica is Opening a Bitcoin Office

The City of Santa Monica is Opening a Bitcoin Office
The City of Santa Monica made history by becoming the first city in the U.S. to open an official Bitcoin office. The city council unanimously voted to pilot the office in partnership with the nonprofit Proof of Workforce  at no cost to the city. The office has four key goals, as per the PR sent to us: providing Bitcoin education, facilitating partnerships and conferences to grow tourism, connecting residents to jobs, and exploring sustainable Bitcoin mining powered by the city's renewable energy. Vice Mayor Lana Negrete, who championed the initiative, said, "As we embark on a journey to learn Bitcoin in Santa Monica, I'm excited to see the following ideas. Bitcoin is for everyone!" Santa Monica is following the model of El Salvador , which became the first country to adopt Bitcoin as legal tender in 2021. Since then, El Salvador has opened up a Bitcoin office and attracted significant investment and tourism related to Bitcoin. By embracing Bitcoin, Santa Monica hopes to replicate some of this success. The city has an annual budget of $700 million and welcomed 4.5 million visitors, spending nearly $1 billion in 2023. Some other recent Bitcoin developments in Santa Monica include firefighters adopting self-custody of Bitcoin and city leaders visiting El Salvador to study its Bitcoin adoption firsthand. As more places like Santa Monica explore Bitcoin, it validates the growing view that cities and countries can gain an advantage by positioning themselves as Bitcoin-friendly destinations. Dom Bei, Founder of Proof of Workforce, said: "The future of Santa Monica is bright orange!" On Wednesday, he plans to present a special Bitcoin visual on the Santa Monica Pier to celebrate the city's new Bitcoin initiative. shares this Contents always with License.

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