New York City Mayor Eric Adams, not being put off by Bitcoin’s volatility, notes that buying the dip could “make a good profit.” He reiterated that he will get his first three paychecks in bitcoin and turn New York City into the center of blockchain technology.
New York Mayor gives tips on buying the dip
The Mayor of New York City, Eric Adams, is not deterred by the falling Bitcoin price. Adams, a former New York City Police Chief and President of the Brooklyn District, took office as the 110th Mayor of New York City on January 1.
He was asked on CNBC Thursday if he was paid in Bitcoin since saying last year he will take his first three paychecks in BTC.
Commenting on the price of Bitcoin this week and how it would have affected his paychecks if it had been paid in the cryptocurrency, the new Mayor of New York City laughed and said:
Sometimes the best time to buy is when things are going down. So if they go up again you have made a good profit.
“Yes, I’ll take my first three paychecks in Bitcoin,” Adams confirmed, but noted, “I haven’t received my first check yet.”
He repeated his crypto plans: “I think we have to use the blockchain technology, Bitcoin. [and] all other technologies. I want New York City to be the center of this technology, so I’m looking forward to the first paycheck in Bitcoin. “
At the time of writing, BTC’s price has fallen more than 13% in the past seven days. It is currently $ 41,364 based on data from Bitcoin.com Markets.
Bitcoin price chart on January 7th. Source: Bitcoin.com Markets.
Several other US mayors have said they want to be paid in Bitcoin as well, including Mayor Francis Suarez of Miami, FL; Scott Conger of Jackson, TN; and Jane Castor of Tampa, FL.
Miami Mayor Suarez said last year that he wants to receive all of his salary in bitcoin. He recently assumed the office of President of the US Mayors’ Conference.
“I will ask my friends, my brothers and sisters, the mayors of this country to sign a mayoral crypto pact because we have to lead without leadership,” he said on Monday. “We need to make sure that our regulatory system embodies the success of the future rather than stifling success.”
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What do you think of the New York Mayor’s stance on Bitcoin and his plan to get paid in BTC? Let us know in the comment section below.
Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.
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