Jackson Mayor Scott Conger believes that Bitcoin holds the answer to resolving the problems of inflation and devaluation of the US dollar.
The city of Jackson, Tennessee, in the United States, is continuing to investigate a prospective foray into cryptocurrencies and is now considering accepting Bitcoin (BTC) as payment for property taxes.
Jackson Mayor Scott Conger stated late Thursday that the city’s blockchain task committee had initiated an investigation into possible means for the city to accept Bitcoin property tax payments.
Additionally, the blockchain group will investigate ways to enable employees to dollar-cost average Bitcoin purchases or to purchase smaller amounts of Bitcoin at regular intervals.
Multiple studies have demonstrated that dollar-cost averaging Bitcoin purchases are the best technique for acquiring Bitcoin.
Conger previously turned to Twitter to denounce ongoing inflation and the depreciation of the US dollar, stating that Bitcoin is the “only one fix for this.”
Why do we accept inflation? Why don’t we demand more from our federal government?
6.3% in 2 years. 172.8% in my lifetime. Every year our dollar is worth less. There is no rebound.
There is only 1 fix for this.. #Bitcoin
— Mayor Scott Conger (@MayorConger) July 16, 2021The latest revelation adds to Conger’s April announcement about Jackson’s broader crypto-related goals.
The city has been aggressively studying ways to pay city personnel in cryptocurrency, including through the establishment of Bitcoin mining businesses and the addition of BTC to the city’s balance sheet.
Conger has mentioned that the city may be considering enabling payments in a variety of different digital currencies, including Ether (ETH) and Litecoin (LTC) (LTC).
As previously reported, Mayor Conger followed Miami Mayor Francis Suarez’s lead in advocating for the city of Miami to accept Bitcoin for tax and salary payments.
Conger is also well-known for adopting “laser eyes,” which are a component of the crypto community’s flash mob in favour of Bitcoin’s possible price spike to $100,000.
Bitcoin is currently selling at $31,732, down 2.5 percent over the last 24 hours, according to CoinGecko data.