Roswell, USA, establishes strategic Bitcoin reserve and emergency fund
On April 30th, according to official document images released by Bitcoin Magazine, the city of Roswell, New Mexico, USA officially confirmed receipt of the first Bitcoin donation totaling 3,050,323 satoshis (approximately 0.0305 BTC), valued at around $2,906 at the time. This donation, as "seed money," is used to launch and establish the "Roswell Strategic (Bitcoin) Reserve" managed by the city government.
According to the document, this fund will:
- Be held for at least ten years, accumulating Bitcoin donations and sponsorships;
- Once it reaches a threshold of $1 million, it can be used as a "Bitcoin emergency fund," with 21% available every five years, subject to unanimous approval by the city council;
- Prioritize subsidizing water bills for local elderly residents and emergency disaster response.
The donation was officially received on April 29th, signed for by Roswell's acting mayor Juliana Halvorson and Bitcoin certification expert Guy Malone. The donation address has been made public.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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