Jackson, Tennessee to become the first U.S. city to add Bitcoin as a payroll option

Jackson, Tennesse Is set to allow its workers to choose Bitcoin as a payroll option. Read the full article by Justinas Baltrusaitis

Bitcoin as well as the stock market is having a really tough time over the past few weeks and continued that trend today. The Omicron variant is starting to bring fear back to the markets globally and schools and businesses begin to close again. This on top of inflation and rising prices are causing absolute panic again.

As an investor, we can take a step away from the charts for a minute and remember that it is not all about the price it’s still more about the utility. Jackson, Tennessee recognizes that and they will be the first state to add Bitcoin as a payroll conversion for workers.

“The RFP is open!” the elated mayor said in an address. “The 22nd (December) is when the respondents have to respond to the RFP. So once the 22nd hits, we’ll open the bids, have the committee, and then they’ll review it. They’ll probably make a recommendation to the council in February.”

Miami has been putting a lot of resources into Bitcoin and blockchain this year first by starting their own City token as well as allowing people to use BTC to pay their taxes. They will also be considering the same as the city of Jackson to add it as a conversion option. This is the first good story to come out in a little while for crypto so this is a nice change of pace. This will not be what changes the direction of the market but it does make you feel slightly better.