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 autumn 2020, a number of high-profile mainstream public corporations, together with Tesla, have invested in cryptocurrency. However municipalities doing the identical are skinny on the bottom. Does Jacob’s curiosity sign a change in that?
Is Bitcoin The Reply to Balancing The County Books?
Performers who turned politicians are usually not an rare affair. Distinguished figures that did so embrace 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 fewer authorities intervention. An instance of this was his response to the masks mandate, during which he stated individuals needs to be free to resolve for themselves. On the identical time, he referred to as out the horrible authorities overreach the mandate represents.
“I fear that one-size-fits-all mandates reminiscent of this set a horrible precedent for presidency overreach, are troublesome to implement, could cause battle between the authorities and the general public when enforced, and, as written, this order locations enforcement tasks on non-public companies.”
He lately tweeted a few assembly he had discussing Bitcoin and Litecoin. In attendance was the Litecoin Basis Challenge Director, David Schwartz.
At this stage, it’s unknown how, or even when, Knox County will make the most of cryptocurrency. Solely that Jacob is worked up concerning the future. He additionally referenced crypto mining in his tweet.
I had an incredible assembly at the moment with @DaddyCool1991 and @SatoshiSouth to speak about #BTC #LTC. With our progressive financial system and mining already taking place on a big scale, the longer term is thrilling!
— Glenn Jacobs (@GlennJacobsTN) April 20, 2021
Tennesse made the checklist of high 5 states for Bitcoin mining resulting from its low cost electrical energy. Mining agency Bitmain additionally has a presence there.
Miami Plans to Grow to be a Crypto Hub
Whereas it’s nonetheless early days for Knox County, below the management of Mayor Francis Suarez, Miami has already laid out its plans to turn out to be the crypto capital of the world. Reaching this might require tech corporations, specifically blockchain corporations, to arrange there.
Suarez stated he’s within the course of of fixing the native regulatory framework to mannequin Wyoming’s crypto-friendly strategy to encourage this.
Native 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 may be additionally speak concerning the metropolis shopping for Bitcoin as a treasury technique.
On his motivation for doing this, Suarez stated:
“I feel, greater than something, Bitcoin presents a chance. The cryptocurrency area as an entire is a quickly rising business and as of at the moment, it doesn’t actually have a “house.” I need to make Miami the “capitol of capital” and that features Bitcoin.”
Whereas few municipalities are leaping on the Bitcoin prepare, Jacob’s curiosity could sign burgeoning consideration on the native degree.
Supply: BTCUSD on TradingView.com