The mayor of York City, Eric Adams, seems unfazed by bitcoin’s volatility, stating that purchasing the drop may result in a “nice return.” He reaffirmed that he will earn his first three salaries in cryptocurrency and will establish New York City as the heart of distributed ledger technology.
The Mayor of New York Is Considering Purchasing the Dip
He seems unfazed by the decreasing price of bitcoin. Adams, a retired New York Police officer, and Brooklyn division president became the city’s 110th mayor on January 1.
On CNBC on Thursday, he was asked if he had been compensated in bitcoin after announcing last year he would receive his first three salaries in BTC.
When asked about the value of bitcoin in the week and that it would have impacted his wages if he’d been compensated in cryptocurrency, Incoming York City’s new mayor smiled and said:
“Sometimes the ideal moment to purchase is when things are falling, so when they rise again, you’ve earned a good profit.”
“Yes, I’m going to bring my first three paychecks in bitcoin,” Adams affirmed, but added, “I haven’t gotten my first check yet.”
“I think we need to leverage the technology of blockchain, Bitcoin, [and] all other types of technology,” he said of his crypto aspirations. I want New York City to be the epicenter of this technology, therefore I’m looking forward to my first bitcoin payday.”
At the moment of typing, the value of BTC had decreased by more than 13% in the previous seven days. According to statistics from Bitcoin.com Markets, it is now $41,364.
Mayors Francis Suarez of Miami, FL, Scott Conger of Jackson, TN, and Jane Castor of Tampa, FL have all stated their desire to be compensated in bitcoin.
Miami Mayor Suarez stated this week that he wishes to be paid entirely in bitcoin. He just accepted the position of president of the United States Conference of Mayors.
“I’m going to encourage my colleagues, my brothers and sisters, the mayors of this nation to sign on to a mayoral crypto agreement, because we need to lead in the absence of leadership,” he stated Monday. “We must ensure that our regulatory structure represents success in the future rather than suffocating success.”
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