The mayor, who took office this week, defended the Bitcoin purchase on the downside and reiterated his intention to receive his first three salaries in the cryptocurrency.
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The newly elected mayor of New York City, Eric Adams, doesn’t seem to be worried about the fact that he will receive his salary in Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. in the midst of a massive price collapse.
Adams had announced in November plans to receive your first three salaries as a government official fully in the cryptocurrency. The politician shared his intention in a tweet in response to a message from Miami Mayor Francis Suarez, who had previously informed of his decision to receive his payroll in Bitcoin .
However, since that announcement, the leading digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. has severely regressed. Bitcoin has fallen almost 40% since it conquered an all-time price high near USD $70,000 in November. The cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. was trading around USD $50,000 during December, but at the beginning of the year it has plummeted. By the time of editing, BTC is trading at USD $42.900 amid a general downtrend for the entire cryptocurrency market.
Good time to buy – or receive – Bitcoin
But for the Big Apple mayor, the latest price correction a correction is a pullback of an asset’s price of at least 10% to adjust for over-valuation. doesn’t seem to be a problem. In an appearance on CNBC this Thursday, Adams shared an argument in favor of acquiring Bitcoin downward.
The politician was asked by the host of the program “. Squawk Box “, Andrew Ross Sorkin, on his perspective on the crypto market an area or arena, online or offline, in which commercial dealings are conducted. crash and his intention to receive his salary in Bitcoin to which he replied:
Sometimes the best time to buy is when things go down, so when they go back up, you make a nice profit.
Adams, who was elected mayor late last year and took office in early January, said he has yet to receive his first nominal paycheck; but reiterated his plans to take his first three paychecks in Bitcoin .
“ But yes, I will take my first three paychecks in Bitcoin. I haven’t gotten my first check yet, but I think we need to use Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. technology, 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 the first Bitcoin paychecks. “, they say.
“Sometimes the best time to buy is when things go down,” says @NYCMayor on #bitcoin . “I’m going to take my first three paychecks in #bitcoin . I haven’t received my first check yet.” pic.twitter.com/dqGkVYxOKg
— Squawk Box (@SquawkCNBC) January 6, 2022
New York City Mayor is committed to crypto
As reported by DiarioBitcoin Adams is not the first U.S. politician to make the decision to receive his paycheck in Bitcoin . Before him, his counterpart in Miami promoted the same initiative. Suarez has spoken out in favor of cryptocurrencies repeatedly during 2021 and is promoting initiatives to boost the adoption of cryptocurrencies. Bitcoin and its underlying technology in Miami.
Also Tampa Mayor Jane Castor, the mayor of Tampa, has been committed in November to receive their salary in the flagship cryptocurrency. The move comes amid what appears to be a widespread trend of payroll payments in Bitcoin . In addition to politicians, some well-known U.S. athletes have also recently opted to receive their payments in the digital currency.
The mayor of New York City, a former police captain, has echoed Suarez’s strategy for turn the city into a Bitcoin center . Adams had shared the proposal during a June primary speech.
“ We will become the center of life sciences, the center of cybersecurity, the center of autonomous cars, drones, the center of Bitcoin, we’re going to be the center of all technology.” , promised at the time. Then, after his appointment, he argued that the Big Apple schools should teach on innovative technologies, such as crypto and Blockchain . The politician has also hinted that his administration might allow local businesses to accept bitcoins and other digital assets as a form of payment.
- Miami Mayor Francis Suarez will be the first U.S. politician to receive his full salary in Bitcoin
- Odell Beckham Jr., another NFL star opting to get paid in Bitcoin
- Huge New York casino project includes crypto trading floor
Sources: U.Today , archive
Article by Hannah Estefania Perez / DiarioBitcoin
Image from Unsplash edited in Canva
