Tennessee city wants to accept Bitcoin as property tax payments
The United State's town of Jackson, Tennessee, continues exploring a possible dive into the crypto field, now looking for accept Bitcoin (BTC) for property tax payments.
Jackson Mayor Scott Conger believes that Bitcoin is the only solution to fix inflation and the U.S. dollar devaluation.
Scott Conger declared last Thursday that the town’s blockchain task force had launched a study on potential strategies to simply accept property tax payments in BTC the city.
The blockchain communities will also explore ways to enable employees to dollar-cost average Bitcoin, or purchase smaller amounts of Bitcoin over regular time intervals. Dollar-cost averaging Bitcoin purchases are considered to be the most effective strategy for accumulating BTC, multiple studies confirmed.
A few days before Conger took to Twitter to blast the ongoing inflation and the U.S. dollar devaluation, and stated that Bitcoin is the “only one fix for this.”
Why do we accept inflation? Why don’t we demand more from our federal government?— Mayor Scott Conger (@MayorConger) July 16, 2021
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
The most recent announcement brings an update to Jackson’s broader crypto-related plans announced by Conger in April. Tennessee has been actively searching for methods to pay city employees in cryptocurrency, adopting Bitcoin mining operations and adding BTC on the city’s balance sheet. Scott previously gave clues that the town could also be searching to accept payments in several other digital coins like Ether (ETH) and Litecoin (LTC).
As previously reported, Mayor Conger followed in the steps of Miami Mayor Francis Suarez, who has been pushing the town of Miami to accept tax and salary payments in BTC. Conger is also known for adopting “laser eyes,” a part of the crypto community’s flash mob supporting Bitcoin’s potential price surge up to $100k. At the time of writing, Bitcoin is trading at $31,295, down 1.95% over the past 24 hours, according to data from CoinMarketCap.