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Is Bitcoin the Only Fix for Inflation?

Posted by Jeffrey Sloe on July 19, 2021 - 1:44am


Tennessee Mayor Calls Bitcoin the Only Fix for Inflation, Announces New Strategy To Embrace BTC

By Daily Hodl Staff • July 18, 2021 // BITCOIN

The mayor of Jackson, Tennessee sees Bitcoin (BTC) as a tool that can address the declining value of the US dollar.

Mayor Scott Conger says that he’s gravely concerned about the rapid rise of inflation in the country as he offers a way out of the US dollar’s deteriorating value.

“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.”

Conger adds that the city is now exploring strategies to embrace the leading cryptocurrency.

“Our blockchain task force is looking into how the City of Jackson, TN can accept property tax payments in Bitcoin and allow our employees to DCA [dollar cost average] in Bitcoin.”

In April, Conger said he believes the local government can be the catalyst that drives the adoption of the king cryptocurrency.

“Local government will lead the way in Bitcoin adoption, and along with it, usher in a new industrial revolution with sustainable economies that will help close the wealth gap.”

Conger added laser eyes on top of his Twitter profile photo, following a trend on social media that suggests support for the largest cryptocurrency.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/zhu difeng

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The original article written by the Daily Hodl Staff and posted on DailyHodl.com.

Article reposted on Markethive by Jeffrey Sloe

Corneliu Boghian good info , thanks for sharing
July 22, 2021 at 5:21am
Jeffrey Sloe I agree Simon. Thank you for reading and commenting Brian, Charles, Simon and Bill.
July 20, 2021 at 1:53am
Bill Rippel Thanks for sharing this article, Jeffrey. Very interesting to see where this is all headed.
July 19, 2021 at 2:30pm
Simon Keighley I also think crypto could become a fix for inflation as the printing of fiat money spirals out of control. Thanks for sharing, Jeffrey.
July 19, 2021 at 8:56am
Charles Phillips First it was major financial institutions that began to embrace opoortunities using cryptocurrency to enhance their finanancial positions. Now local governments are exploring that could mean better financial positions for them as well. Are lower local taxes forthcoming? Maybe?
July 19, 2021 at 4:19am
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