The mayor of the U.S. city of Jackson, Tennessee, explains that the price of bitcoin will keep rising as the Fed continues to print money. He believes that bitcoin is “definitely the future monetary system.”
Mayor Explains Bitcoin’s Price Will Keep Rising as the Fed Continues to Print Money
Mayor Scott Conger of the U.S. city of Jackson, Tennessee, commented on the price of bitcoin Saturday in relation to the Fed’s money-printing policy. He wrote:
As the Feds continue to print more USD, this chart will continue to rise. Bitcoin could be the present, but is definitely the future monetary system, and after 21M, there isn’t any more.
The BTC price when the mayor tweeted was $49,626.81. At the time of writing, the price of the cryptocurrency is sitting at $49,775.13 after it surpassed the $50K level Monday morning.
It was reported in April that Mayor Conger was exploring payroll conversions for city employees as well as bitcoin mining to add BTC to the city’s balance sheet.
In July, he tweeted that his city’s blockchain task force is looking into how the city can “accept property tax payments in bitcoin and allow our employees to DCA in bitcoin.”
He has also spoken about inflation several times, stating, “Let us not accept any inflation as well as the increasing carbon footprint.”
Mayor Conger is among a handful of mayors in the U.S. who have been vocal about making bitcoin work for their cities. Mayor Francis Suarez has also been trying to make Miami, Florida, a bitcoin hub. Last week, Mayor Jayson Stewart of Cool Valley, Missouri, said that he is raising funds to give $1,000 in BTC to every resident in his city.