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Undeterred by Bitcoin’s volatility, New York City Mayor Eric Adams noted that buying the dips could yield “great profits.” He reiterated that he will receive his first three bitcoin salaries and will make New York City the epicenter of blockchain technology.
New York mayor hints at buying dips
New York City Mayor Eric Adams was undeterred by the drop in Bitcoin prices. A former New York City police captain and Brooklyn borough president, Adams became New York City’s 110th mayor on January 1.
He was asked on CNBC on Thursday, since he said last year that he would take his first three salaries exist Bitcoin.
Talking about the price of Bitcoin this week and how that would affect his salary if he gets paid in cryptocurrency, New York City’s new mayor smiled and said:
Sometimes the best time to buy is when the price is down, so when it comes back up, you’re in for a big profit.
“Yes, I will pay my first three salaries in bitcoin,” Adams confirmed, but noted, “I haven’t received my first check yet.”
He reiterated his crypto plans: “I think we need to use blockchain technology, Bitcoin, [and] All other forms of technology. I want New York City to be the center of this technology, so I’m looking forward to my first paycheck in Bitcoin. “
At the time of writing, the price Bitcoin Down more than 13% in the past 7 days.Currently at $41,364 according to data from Bitcoin.com Market.
Some other U.S. city mayors say they want to be Pay with Bitcoin, including Mayor Francis Suarez of Miami, Florida; Scott Conger of Jackson, Tennessee; and Jane Custer of Tampa, Florida.
Miami Mayor Suarez said last year that he wanted to get his full salary in bitcoin. He recently accepted the position of President of the United States Conference of Mayors.
“I’m going to ask my friends, my siblings, and the mayors of this country to sign a mayoral crypto compact because we need to lead without leadership,” he said Monday. “We need to ensure that our regulatory system reflects future success, not stifles it.”
What do you think about the NYC mayor’s stance on Bitcoin and his plans to get paid Bitcoin? Let us know in the comments section below.
Image Source: Shutterstock, Pixabay, Wikimedia Commons
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