PANews reported on April 30 that according to an official document image released by Bitcoin Magazine, the city of Roswell, New Mexico, officially confirmed that it had received its first Bitcoin donation of 3,050,323 satoshis (about 0.0305 BTC), which was about $2,906 at the time. The donation was used as "seed money" to start and establish the "Roswell Strategic (Bitcoin) Reserve" managed by the city government. According to the document, the fund will:
Hold for at least ten years to accumulate Bitcoin donations and sponsorships;
After reaching the $1 million threshold, it can be used as a "Bitcoin emergency fund", and 21% can be used every five years, subject to unanimous approval by the City Council;
Priority will be given to subsidizing the water bills of local elderly residents and emergency disaster response.
The donation was officially received on April 29 and signed by Juliana Halvorson, acting mayor of Roswell, and Guy Malone, a Bitcoin certified expert. The donation address has been made public.
