The mayor of New York City, Eric Adams, is not distracted by bitcoin’s volatility, noting that buying the dip could yield “a good profit”. He reiterated that he would receive his first three salaries in bitcoin and make New York City the center of blockchain technology.
Mayor of New York hints at buying Deepa
New York City Mayor Eric Adams hasn’t been deterred by the falling price of bitcoin. A former New York City police captain and Brooklyn city president, Adams took office as the 110th mayor of New York City on January 1.
On Thursday, he was asked on CNBC if he was paid in bitcoin because he said last year that he would take his first three paychecks in BTC.
Commenting this week on the price of bitcoin and how it would have affected his paycheck if he had been paid in the cryptocurrency, the new mayor of New York City laughed:
Sometimes the best time to buy is when things go down, so when they go back up, you’ve made a good profit.
“Yeah, I’m going to take my first three paychecks 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 the technology of blockchain, bitcoin, [and] All other forms of technology. I want New York City to be the center of that technology, so I’m looking forward to that first paycheck in bitcoin.
At the time of writing, the price of BTC is down by over 13% in the past seven days. It is currently $41,364 based on data from Bitcoin.com Markets.
Some other US city mayors have said they also want to pay in bitcoin, 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 wanted to receive his entire salary in bitcoin. He recently accepted the role of president of the Conference of American Mayors.
“I am going to ask my friends, my brothers and sisters, the mayors of this country to sign the Mayoral Crypto Compact, because that is what we need to lead in the absence of leadership,” he said on Monday. “We need to make sure that our regulatory system is a symbol of future success, rather than suppressing success.”
What do you think about the New York City mayor’s stance on bitcoin and his plan to get paid in BTC? Let us know in the comments section below.
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