Roswell First In US To Hold BTC Reserves
The post Roswell First In US To Hold BTC Reserves appeared on BitcoinEthereumNews.com. Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Roswell, New Mexico has made history in municipal finance by becoming the first city in the United States to have an official Bitcoin reserve. Small Donation Puts Big Plans In Motion For Emergency Fund As per the city officials, the initially small first donation of 3,050,323 satoshis (0.0305 BTC) will form the basis for a much more significant financial plan. The city accepted its first cryptocurrency donation of 0.0305 BTC (around $2,845) on April 29, 2025, to kick off what officials have dubbed the “Roswell Strategic Bitcoin Reserve.” Crypto Stockpile To Grow The reserve will increase by further Bitcoin donations and sponsorships over the period of a decade. As per reports by the city council, the crypto hoard must accumulate to the value of $1 million before it can be tapped as an emergency fund. I’m pleased to update that Mayor Pro Tem Juliana Halvorson came by my work earlier and we signed the receipt from city hall, stating that @RoswellNMGov now custodies our Bitcoin Strategic Reserve, as well as offers tax-deductible receipts for donations. Today my heart is full. pic.twitter.com/IMO717r7zf — Guy Malone, CBP (@RichNFrenz) April 30, 2025 The city government will oversee the cryptocurrency reserves, with tight control measures in place. Any expenditure from the reserve needs to be approved unanimously by the city council. Regulations allow for up to 21% of the total reserve to be spent every five years, with priority initially given to assisting elderly citizens in paying water bills and supporting emergency disaster relief efforts.
The post Roswell First In US To Hold BTC Reserves appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Roswell, New Mexico has made history in municipal finance by becoming the first city in the United States to have an official Bitcoin reserve. Small Donation Puts Big Plans In Motion For Emergency Fund As per the city officials, the initially small first donation of 3,050,323 satoshis (0.0305 BTC) will form the basis for a much more significant financial plan. The city accepted its first cryptocurrency donation of 0.0305 BTC (around $2,845) on April 29, 2025, to kick off what officials have dubbed the “Roswell Strategic Bitcoin Reserve.” Crypto Stockpile To Grow The reserve will increase by further Bitcoin donations and sponsorships over the period of a decade. As per reports by the city council, the crypto hoard must accumulate to the value of $1 million before it can be tapped as an emergency fund. I’m pleased to update that Mayor Pro Tem Juliana Halvorson came by my work earlier and we signed the receipt from city hall, stating that @RoswellNMGov now custodies our Bitcoin Strategic Reserve, as well as offers tax-deductible receipts for donations. Today my heart is full. pic.twitter.com/IMO717r7zf — Guy Malone, CBP (@RichNFrenz) April 30, 2025 The city government will oversee the cryptocurrency reserves, with tight control measures in place. Any expenditure from the reserve needs to be approved unanimously by the city council. Regulations allow for up to 21% of the total reserve to be spent every five years, with priority initially given to assisting elderly citizens in paying water bills and supporting emergency disaster relief efforts.
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