Santa Monica Goes Big on Bitcoin with New City Office

• The City of Santa Monica has recently created a Bitcoin Office page on its official website.
• The page intends to provide education on Bitcoin to the public, partnering with the Proof of Workforce.
• The Californian city has planned to organize the “Bitcoin Peer to Pier” festival in October 2024.

Santa Monica city council unanimously approved the launch of an official “Bitcoin Office.”   The aim is to build upon the city’s interest in exploring Bitcoin’s potential, both as an investment and as a tool for economic recovery and innovation in the tech-centric Silicon Beach area. This builds on previous initiatives, when the Santa Monica firefighters became the first union to purchase and hold Bitcoin last year.

The City of Santa Monica teamed up with the Proof of Workforce Foundation, a non-profit focused on Bitcoin education, to make sure everyone, from individuals to big institutions, understands the ins and outs of Bitcoin and how it fits into today’s economy. Santa Monica aims to be the place to be for anyone looking to get involved in Bitcoin, whether it’s trading, investing, or building the next big thing.

The Bitcoin Office page appeared on the City of Santa Monica’s website on August 8. The public unanimously supported the proposal, July 11. However, the official page does not detail the program’s measures or further procedures.

The Santa Monica Bitcoin Office has also announced the “Bitcoin Peer to Pier” festival, scheduled for October 18, 2024, with the date subject to change in the future.

Also, Swan Bitcoin announced that the initially planned Pacific Bitcoin Festival for October, stays canceled so as to concentrate more on their core business. While both events purportedly seemed the same, the platforms might have planned for a more modest program in the month.

Amid these developments, Bitcoin hasn’t marked any significant gains. Currently trading at $60,425, Bitcoin has experienced a slight decline of 0.87% in the last 24 hours and a 1.78% drop in the last 7 days. However, over the past 30 days, the cryptocurrency has seen a notable surge of 2.50%.