US Mayor says Bitcoin will continue to rise as Fed continues to print more dollars

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The mayor of the US city of Jackson, Tennessee, says the price of bitcoin will continue to rise as the Fed continues to print money. He thinks bitcoin is “definitely the future monetary system”.

Mayor explains Bitcoin price will continue to rise as Fed continues to print money

Mayor Scott Conger of the US city of Jackson, Tennessee, commented on the price of bitcoin on Saturday in relation to the Fed’s money printing policy. He wrote:

As the Fed continues to print more USD, this chart will continue to rise. Bitcoin could be the present, but it is definitely the future monetary system, and after 21M there is no more.

The BTC price when the mayor tweeted was $ 49,626.81. At the time of writing, the price of the cryptocurrency stands at $ 49,775.13 after breaking above the $ 50,000 level on Monday morning.

Bitcoin.com News reported in April that Mayor Conger was exploring wage 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 examining how the city can “accept property tax payments in bitcoin and allow our DCA employees in bitcoin.”

He also spoke on several occasions about inflation, declaring: “Let us not accept any inflation as well as the increase in the carbon footprint”.

Mayor Conger is one of a handful of mayors across the United States who have spoken out to make bitcoin work for their cities. Mayor Francis Suarez has also tried to make Miami, Florida a bitcoin hub. Last week, Mayor Jayson Stewart of Cool Valley, Missouri, said he was fundraising to donate $ 1,000 in BTC to every resident of his town.

Do you agree with Mayor Conger on bitcoin? Let us know in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons

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