Eric Adams won the mayoral seat of New York City in November 2021. Today he is ready to buy a Bitcoin dip. Adams will convert his salary from US dollars to Bitcoin and Ethereum. The conversion of funds is done through Coinbase, the country’s largest cryptocurrency exchange. From the beginning, Adams has maintained the pro-Bitcoin and pro-crypto stand. Shortly after winning the election, Adams set a precedent and announced that he would convert his first salary into cryptocurrencies.
In a press release from his office, the Mayor of New York wrote:
“New York is the center of the world and wants to be the center of cryptocurrencies and other financial innovations. Being at the forefront of such innovations creates jobs, improves the economy and can attract talent from all over the world.”
Coincidentally, his first salary comes just as Bitcoin and the wider crypto market have been sharply modified. It will put a lot of strain in Adam’s pockets. Earlier this month, Adams said Bitcoin at USD 50,000 represents a perfect buying opportunity. Bitcoin is already trading at a discount of over USD 50,000 to over 20 percent.
In recent months, many US politicians have also upset many anti-crypto voters by taking a position in favor of cryptocurrencies. The Mayor of Miami, Francis Suarez, was one of the first to take the position of pro-crypto. The Mayor of New York has also announced NYCcoin, the native cryptocurrency. NYCcoin is also currently available for mining. Many other US politicians, such as Cynthia Lummis, have expanded their crypto support and invested in top assets such as Bitcoin and Ethereum.
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