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January 17, 2022
Crypto News

NYC Mayor Undeterred by Falling Bitcoin Price, Says Buying the Dip Could Yield ‘Good Profit’ – Markets and Prices Bitcoin News

The mayor of New York City, Eric Adams, shouldn’t be deterred by bitcoin’s volatility, noting that purchasing the dip might yield “a good profit.” He reiterated that he’ll obtain his first three paychecks in bitcoin and will make New York City the middle of blockchain know-how.

New York Mayor Hints at Buying the Dip

The mayor of New York City, Eric Adams, is undeterred by the falling price of bitcoin. A former New York City police captain and Brooklyn borough president, Adams took workplace on Jan. 1 as the a hundred and tenth mayor of New York City.

He was requested on CNBC Thursday whether or not he has been paid in bitcoin since he stated final yr that he’ll take his first three paychecks in BTC.

Commenting on the price of bitcoin this week and how it will have affected his paychecks if he had been paid in the cryptocurrency, the new mayor of New York City laughed and stated:

Sometimes the greatest time to purchase is when issues go down, so once they return up, you’ve made an excellent revenue.

“Yes, I’m going to take my first three paychecks in bitcoin,” Adams confirmed, however famous, “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 has fallen greater than 13% inside the previous seven days. It is at the moment $41,364 primarily based on knowledge from Bitcoin.com Markets.

NYC Mayor Undeterred by Falling Bitcoin Price, Hints at Buying the Dip
Bitcoin’s price chart on Jan. 7. Source: Bitcoin.com Markets.

Just a few different U.S. metropolis mayors have stated that additionally they need to be paid in bitcoin, together with Mayors Francis Suarez of Miami, FL; Scott Conger of Jackson, TN; and Jane Castor of Tampa, FL.

Miami Mayor Suarez stated final yr that he needs to obtain his complete wage in bitcoin. He not too long ago accepted the function of the president of the U.S. Conference of Mayors.

“I’m going to ask my friends, my brothers and sisters, the mayors of this country to sign on to a mayoral crypto compact, because we need to lead in the absence of leadership,” he stated Monday. “We need to make sure that our regulatory system embodies success into the future instead of stifling success.”

Tags on this story
Bitcoin, Bitcoin Salary, purchase the dip, eric adams, eric adams bitcoin, Eric Adams purchase the dip, eric adams crypto, Eric Adams cryptocurrencies, eric adams cryptocurrency, Francis Suarez, receives a commission in Bitcoin, miami mayor, New York City, New York City Bitcoin, the big apple metropolis mayor

What do you consider the New York City mayor’s stance on bitcoin and his plan to receives a commission in BTC? Let us know in the feedback part beneath.

Kevin Helms

A pupil of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source programs, community results and the intersection between economics and cryptography.

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