A wave of political benevolence and support for Bitcoin is building in the US. Aside from Bitcoin‘s staggering market price, some politicians seem to have recognized Bitcoin’s potential and popularity. Many mayors in the United States were optimistic.
These range from the newly elected Mayor of New York City, Eric Adams, to the Mayor of Miami, Francis Suarez. Now, in a wave of US cities nearing the adoption of Bitcoin, the city of Jackson, Tennessee, is racing forward, led by the city’s Mayor Scott Conger.
Electronic payroll accounting
According to a local media report, the city of Jackson will soon make history as the first city in the country to add cryptocurrency as a wage conversion option for city workers. The city has now opened a tender for the companies that will be responsible for converting the cryptocurrency. The notice of the call for proposals reads as follows:
“The tender is open! The 22nd (December) is the time when the respondents have to respond to the tender. So when the 22nd comes, we’re going to open bids, form a committee, and then look into it. You are expected to submit the proposal to the Council in February. “
As already mentioned, all proposals will be examined by the committee in February. The move could play an important role in diversifying an employee’s payment options.
Mayor Conger said:
“It’s not a must. It is an alternative. Imagine investing in the stock market. What do you want to do? You want to diversify your investments. And this is just one more way to diversify our portfolio to generate income – possibly across the city. “
But why not say it directly? Well, HODLing Bitcoin on the balance sheet is very difficult due to regulatory restrictions. As a result, the city cannot pay its residents directly with cryptocurrency.
“This is basically our partnership with a third party platform,” noted the mayor.
“So we’re going to pay our employees, and part of that will be deductions from wages that go to third parties. They will then – from a predetermined amount that they have calculated – open this wallet for them and buy Bitcoin or another crypto currency. “
The option will also allow the city to pay contractors and companies in Bitcoin, which will allow the city to attract more contractors.
The mayor of the ninth largest city in the state of Tennessee has voice for him BTC support history. In May, the politician urged everyone in the region to adopt BTC. In one step to “open a new industrial revolution”.