United States city Jackson, Tennessee continues to explore cryptocurrencies and is now accepting Bitcoin ( BTC) as property tax payments.
Scott Conger , Jackson Mayor, announced that the city’s Blockchain Task Force had launched a study to determine how Bitcoin could be used to receive property taxes payments.
The blockchain group will also examine how employees can dollar-cost average Bitcoin or buy smaller amounts over a regular time period. The best strategy to accumulate Bitcoin is dollar-cost averaging Bitcoin purchase, multiple research confirmed.
Conger had previously taken to Twitter to criticize the U.S. Dollar devaluation and ongoing inflation, saying that Bitcoin was the “only solution”.
Why accept inflation? 6.3% in two years. In my lifetime, 172.8%. Each year, our dollar is worth less. There is no rebound.
This is the only solution. #Bitcoin
Mayor Scott Conger (@MayorConger).July 16, 2021
This announcement updates Jackson’s larger crypto-related plans, which Conger announced in April. The city is actively looking at ways to pay its employees in cryptocurrency. This includes adopting Bitcoin mining operations, and adding BTC to the city’s balance sheets. Conger suggested previously that payments could also be made in Ether (ETH) or Litecoin( LTC) by the city.
As previously reported, Conger followed the lead of Miami Mayor Francis Suarez who was pushing for the adoption of tax and salary payments made in Bitcoin. Conger is also well-known for his adoption of ‘laser eyes’, a part the flash mob that supports Bitcoin’s potential rise to $100,000. According to data compiled by CoinGecko, Bitcoin trades at $31,732, a 2.5% drop over the last 24 hours.