NYC mayor getting paid in Bitcoin suggests buying the dip

Newly
sworn-in
New
York
City
Mayor
Eric
Adams
is
already
using
his
influence
to
speak
publicly
about
buying
the
recent
Bitcoin
dip.

In
a
Thursday
interview
with
CNBC’s
Squawk
Box,
Adams

said

he
had
not
yet
received
his
first
paycheck
as
the
mayor
of
New
York
City,
but
reiterated
his
aim
to
make
the
city
a
Bitcoin
(BTC)
and
crypto
hub.
When
co-anchor
Andrew
Ross
Sorkin
pointed
out
that
the
price
of
the
crypto
asset
has
“come
down”


dipping
as
low
as
$43,000

early
Thursday

the
NYC
mayor
seemed
to
be
undeterred.

“Sometimes
the
best
time
to
buy
is
when
things
go
down,
so
when
they
go
back
up,
you
made
a
good
profit,”
said
Adams.
“We
need
to
use
the
technology
of
blockchain,
Bitcoin,
of
all
other
forms
of
technology.
I
want
New
York
City
to
be
the
center
of
that
technology.”

Adams,
who
has
been
in
office
five
full
days

following
a
November
election
win
,
is
replacing
Bill
de
Blasio
as
the
mayor
of
New
York
City.
During
his
campaign,
Adams pledged
to
make
New
York
City

a
tech
hub
that
will
be
”the
center
of
cybersecurity,
the
center
of
self-driving
cars,
drones,
the
center
of
Bitcoins,”
beating
out
crypto-friendly
businessman
Andrew
Yang
to
become
the
Democratic
party
nominee.

As
part
of
his
efforts
to
promote
crypto
and
blockchain
technology

or
perhaps
inspired
by

a
friendly
feud
with
Miami
Mayor
Francis
Suarez


Adams
announced
following
the
election
that
he

planned
to
take
his
first
three
paychecks

in
BTC.
Assuming
the
NYC
mayor
accepts
a
base
salary
of
$258,750,
his
monthly
paychecks
would
be
roughly
$21,562
each,
a
total
of
1.51
BTC
at
a
price
of
$42,948.



Related:




Miami
mayor
plans
to
accept
next
paycheck
entirely
in
Bitcoin

New
York
state
is
often
the
center
of
media
attention
related
to
regulation
and
enforcement
for
crypto
firms
in
the
United
States.
The
New
York
Attorney
General’s
office
was
responsible
for
the
settlement
of
the
case
against
Bitfinex
and
Tether,
which
in
February

agreed
to
pay
$18.5
million

in
damages,
and
ordered Coinseed
to
close
its
doors

after
the
firm
allegedly
defrauded
investors
out
of
more
than
$1
million.

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