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Tennessee City Exploring Bitcoin-enabled Payment For Property Tax

By Chris Torres | July 17, 2021
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United States’ city of Jackson, Tennessee is reportedly putting in extensive efforts to embrace crypto, following its tentative plan to add Bitcoin (BTC) to the list of payment measures for property tax. 

Specifically, Jackson Mayor Scott Conger reportedly revealed on July 15th that the city’s blockchain task force had initiated a project to deep dive into possible Bitcoin-enabled payment options for property tax throughout the city.

The blockchain group will further study the way to help its staff to dollar-cost average Bitcoin or buy a smaller sum of the coin throughout regular time intervals.

Dollar-cost averaging Bitcoin purchases are reportedly recognized as the most appropriate approach when it comes to accumulating Bitcoin, as numerous research suggested. 

Previously, Conger reportedly shared his remarks regarding inflation and the U.S. dollar devaluation via Twitter, believing that Bitcoin is the sole solution to these matters.

“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 worthless. There is no rebound.

There is only 1 fix for this.. #Bitcoin”

This most recent update reportedly showed additional clarity into the bigger picture of the city’s crypto-centric initiatives revealed by Conger in April. The city has been putting in extensive efforts to research crypto-based payout for city staff, adopt Bitcoin mining operations and add BTC to the city’s balance sheet.

Before that, Conger reportedly gave some clues that payments in different coins, nominally Ether (ETH) and Litecoin (LTC), are also on the list to study of the city.

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