As mayor of Knox County, Tennessee, former wrestler Glen Jacob, stage identify Kane, is trying into Bitcoin and Litecoin to assist his municipality.
Since This fall 2020, a number of high-profile mainstream public firms, together with Tesla, have invested in cryptocurrency. But municipalities doing the identical are skinny on the bottom. Does Jacob’s curiosity sign a change in that?
Is Bitcoin The Answer to Balancing The County Books?
Performers who turned politicians usually are not an rare affair. Prominent figures that did so embody Ronald Reagan, Arnold Schwarzenegger, and Jerry Springer.
Since retiring from the WWE, Jacob introduced his intent to run for the mayorship of Knox County as a Republican. Following his 66% – 34% win over Democratic opponent Linda Haney, he took workplace in August 2018.
Jacob advocates for extra private duty and much less authorities intervention. An instance of this was his response to the mask mandate, wherein he stated folks must be free to determine for themselves. At the identical time, he known as out the horrible authorities overreach the mandate represents.
“I worry that one-size-fits-all mandates such as this set a terrible precedent for government overreach, are difficult to enforce, can cause conflict between the authorities and the public when enforced, and, as written, this order places enforcement responsibilities on private businesses.”
He just lately tweeted a few assembly he had discussing Bitcoin and Litecoin. In attendance was the Litecoin Foundation Project Director, David Schwartz.
At this stage, it’s unknown how, or even when, Knox County will make the most of cryptocurrency. Only that Jacob is happy concerning the future. He additionally referenced crypto mining in his tweet.
I had an amazing assembly as we speak with @DaddyCool1991 and @SatoshiSouth to speak about #BTC #LTC. With our revolutionary financial system and mining already taking place on a big scale, the long run is thrilling!
— Glenn Jacobs (@GlennJacobsTN) April 20, 2021
Tennesse made the record of top five states for Bitcoin mining because of its low-cost electrical energy. Mining agency Bitmain additionally has a presence there.
Miami Plans to Become a Crypto Hub
While it’s nonetheless early days for Knox County, beneath the management of Mayor Francis Suarez, Miami has already laid out its plans to turn into the crypto capital of the world. Achieving this may require tech corporations, specifically blockchain firms, to arrange there.
Suarez stated he’s within the course of of adjusting the native regulatory framework to mannequin Wyoming’s crypto-friendly strategy to encourage this.
Local officers are additionally contemplating giving metropolis staff the choice to be paid in Bitcoin and for native charges and taxes to be paid in cryptocurrency. There can be speak concerning the metropolis shopping for Bitcoin as a treasury technique.
On his motivation for doing this, Suarez said:
“I think, more than anything, Bitcoin presents an opportunity. The cryptocurrency space as a whole is a rapidly growing industry and as of today, it doesn’t really have a “home.” I wish to make Miami the “capitol of capital” and that features Bitcoin.”
While few municipalities are leaping on the Bitcoin practice, Jacob’s curiosity could sign burgeoning consideration on the native stage.
Source: BTCUSD on TradingView.com
