Santa Monica opens official Bitcoin office
Santa Monica has opened an official Bitcoin office. The move was unanimously approved by the City Council in partnership with the nonprofit Proof of Workforce and comes at no cost to the city. The office has several goals: to provide Bitcoin education, promote tourism through partnerships and conferences, connect residents with jobs, and research sustainable Bitcoin mining that relies on the city's renewable energy sources.
Initiative by Vice Mayor Lana Negrete
The initiative was launched by Vice Mayor Lana Negrete, who is excited about the opportunities for widespread Bitcoin adoption. Santa Monica is taking inspiration from El Salvador, which adopted Bitcoin as legal tender in 2021 and has seen increased investment and tourism since then.
Objectives and background
Santa Monica has an annual budget of $700 million. In 2023, 4.5 million visitors spent nearly $1 billion in the city. Santa Monica is hoping for similar success through Bitcoin adoption. Recent Bitcoin-related developments include the city's firefighters adopting Bitcoin self-custody, and city leaders visiting El Salvador to study its Bitcoin adoption.
Support from Proof of Workforce founder Dom Bei
Dom Bei, the founder of Proof of Workforce, is enthusiastically supporting the initiative. He plans to unveil a Bitcoin visual – a visual artwork representing Bitcoin – on the Santa Monica Pier to mark this significant step.
