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Inflation? Just buy bitcoin, says Jackson, Tennessee, mayor

  • 1 mth ago

The mayor of Jackson, Tennessee, on Wednesday said he’s committed to figuring out a method for the 70,000-person city to hold bitcoin as a currency, regardless of whether or not Tennessee or the federal government legislates it.

During a virtual discussion hosted by Route Fifty, Scott Conger, the mayor of Jackson since July 2019, described how during the COVID-19 pandemic he became enamored with the potential of bitcoin as a hedge against inflation and as an eventual alternative to the U.S. dollar.

Doing his own research, Conger said, as well as connecting with Miami Mayor Francis Suarez — who recently announced he’ll make a digital wallet for every Miami resident, among other cryptocurrency-focused campaigns — allowed him to start wondering in earnest whether investing in bitcoin might solve his city’s financial woes.

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