Mayor Scott Conger of the U.S. city of Jackson, Tennessee, has explained that there is no stopping the price of bitcoin from rising even as the Fed continues to print money. He stated that he firmly believes that bitcoin is definitely going to be the monetary system of the not-so-faraway future.
Mayor explains why the price of Bitcoin will always continue rising as the Fed keep printing money
“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.”
As at the time the mayor tweeted, the price of BTC was $49,626.81, not so surprisingly now, at the time of putting this writing together, the price of the cryptocurrency is sitting comfortably at $49,775.13. That is after it went past the $50K level on Monday morning.
In a news reported by Bitcoin.com back in April was gathered that Mayor Conger was considering the options of making payroll conversions for city employees as well as bitcoin mining so as to be able to add BTC to the balance sheet of the city of Jackson, Tennessee.
In July also, he tweeted that his city’s blockchain task force is taken a look at how the city can “accept property tax payments in bitcoin and allow our employees to DCA in bitcoin.”
He has also spoken up about inflation several times, stating that inflation should not be acceptable in his city.
Mayor Conger remains one of the few mayors in the U.S. who have been quite outspoken about the benefits of BTC and making it work for their cities. Just as we have Mayor Francis Suarez who has been trying to make Miami, Florida, a bitcoin hub, Mayor Jayson Stewart of Cool Valley, Missouri, also said sometime last week, that he is raising funds to give $1,000 in BTC to every resident in his city.