A Ukrainian Village Head Pays Dividends of Crypto Investment to Residents

A Ukrainian Village Head Pays Dividends of Crypto Investment to Residents

crypto investment

A small village in Ukraine has recently announced some exciting yet interesting news regarding an experiment conducted by the village head. According to a recent report, it was made known that the head of a small village in Ukraine, Maxim Golosnoy has called a town hall meeting to announce that each adult resident of the village is entitled to dividends of 100 Hryvnias (Local currency), from a crypto investment made on their behalf. The village in question has been identified as Elizavetovka, and it is situated in the Dnipropetrovsk region.

Investment from Village head’s Pocket

Maxim has stressed that the initial investment into cryptos came from his personal pocket and not from the community budget, so this is more of a personal project.

He explained this is in a statement which reads:
“This was a cryptocurrency experiment. No budgetary funds have been spent and you still have the cryptocurrency. The funds you have just received are only dividends.”

Earlier this year, Maxim reportedly purchased for the villagers some Cardano (ADA). The ADA coin is a popular method of payment in the village. He also bought some bitcoin core and Ethereum. When be bought ADA, the price was just $0.14 per coin. Few weeks after, the price jumped to $0.39 per coin. Following this price jump, Maxim sold some part of the coin to recover his original capital.

Currently, the price of ADA stands about $0.30 which is a drop of more than 70% than its all-time high of $1.15.

The Dividends will be used for Road Repair

Instead of collecting their entitlements of 100 Hryvnias, the residents of Elizavetovka have made a decision to use part of the revenue to fix some potholes on their the road that passes through their village.

The rest will be kept in the investment account, which the village head hopes to increase significantly as the years go by.