Arkansas tempts tech workers with free Bitcoin, $10k of it… oh and a bike

Incentives encouraging workers to move cities has recently grown in popularity across the United States with Arkansas being the latest state to offer $10,000 to attract new tech workers, which can be claimed in Bitcoin. Workers can also claim a free bike alongside their crypto.

At the time of writing, Bitcoin is currently trading at $42,033 according to CoinMarketCap, which would equivocate the incentive cash to roughly a quarter of a Bitcoin.

The initial project, which was launched in November 2020, was deployed by non-profit, Northwest Arkansas Council, started offering $10,000 cash and a bike to individuals who were willing to resettle in the city as a part of a new economic development strategy. This new twist on the incentive scheme positions the region as a crypto-friendly hub, in light of the growing concerns echoed by national regulators on risks involved with digital currencies.

Northwest Arkansas Council said on its website: “Northwest Arkansas is experiencing explosive growth in the tech sector, specifically within blockchain-enabled technologies, and this incentive embraces the growing trend of cryptocurrency as a payment option by employers.”

Eligibility requires applicants to relocate to Northwest Arkansas within six months of acceptance into the program and sign a one year lease or buy a home.