Santa Monica Opens Bitcoin Office

Santa Monica is establishing an official Bitcoin office with Proof of Workforce to investigate potential economic opportunities and provide Bitcoin Education

Establishing an official Bitcoin office by the City of Santa Monica was a significant milestone. The city council unanimously approved the pilot program for the office, which will be conducted in conjunction with the nonprofit organization Proof of Workforce at no cost to the city.

According to the press release, the office has four primary objectives: facilitating partnerships and conferences to increase tourism, connecting residents with employment opportunities, and investigating sustainable Bitcoin mining propelled by the city’s renewable energy.

“I am enthusiastic about the following ideas as we begin our journey to learn Bitcoin in Santa Monica,” stated Vice Mayor Lana Negrete, who spearheaded the initiative. Bitcoin is accessible to all individuals.

Santa Monica is adhering to the example of El Salvador, which was the first nation to recognize Bitcoin as legal tender in 2021. El Salvador has since established a Bitcoin office, attracting substantial investment and tourism in the Bitcoin sector.

Santa Monica aspires to replicate some of this success by adopting Bitcoin. In 2023, the city received 4.5 million visitors and spent nearly $1 billion, with an annual budget of $700 million.

Other recent Bitcoin developments in Santa Monica include the adoption of self-custody of Bitcoin by firefighters and the visit of city executives to El Salvador to observe the adoption of Bitcoin firsthand.

The escalating belief that cities and countries can capitalize on Bitcoin by establishing themselves as Bitcoin-friendly destinations is confirmed by the increasing number of locations, such as Santa Monica, investigating the cryptocurrency.

Dom Bei, the founder of Proof of Workforce, declared, “The future of Santa Monica is bright orange!” In celebration of the city’s new Bitcoin initiative, he intends to unveil a unique Bitcoin visual on the Santa Monica Pier on Wednesday.