Buy The Dip: NYC Mayor To Get His Paychecks In Bitcoin

The freshly elected mayor of New York City sees the recent dip in the crypto market as an opportunity to capitalize on, claiming that he’s “looking forward to that first paycheck in Bitcoin.” The recently sworn-in mayor Eric Adams had declared that he plans on receiving his first three paychecks in Bitcoin all the back in November 2021.

In his interview with CNBC’s Squawk Box this Thursday, Eric Adams was questioned whether he would still be optimistic on the idea of getting his paycheck in bitcoin, as stated in November, when thinking of its recent fall in value. To this, he has expressed his resolve in standing by his earlier decision.

“Sometimes the best time to buy is when things go down, so when they go back up, you made a good profit,” the mayor commented. Along with this, he expressly reinforced his claims to transform the city into a Crypto Hub, promising to promote the crypto community in the NYC, “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.”

Coingape told that, as seen from the tweet, Adams did clarify that he hasn’t actually received his first paycheck yet, bearing in mind that he was sworn in on 1 January and has been in office for just five days. Nonetheless, it seems he is excited to get his first three salary paychecks in bitcoin form.

Becoming A Crypto Hub In The US

To clue you in on the how the plans to be a Crypto Hub came about, in Adams’ election campaigns in November, he’d promised to turn New York into a tech hub, making it the center of cybersecurity, self-driving cars, Bitcoin, and blockchain, as stated by Crypto Daily. They also mentioned that the campaign promises helped Adams edge out Andrew Yang, a crypto-friendly businessman, to become the Democratic Party nominee.

Believing in the importance that the crypto world may hold in the coming years, Adam advocates for the incorporation of developments in the crypto sphere into the school curriculum as well, believing that it would be beneficial for the later generations.

Crypto Entering The World Of Politics

Many of you may already be aware, but this isn’t the first time a politician engaged into the cryptocurrency market. Just recently, South Korea’s presidential candidate Lee Jae-myung (from the Democratic Party) announced his intentions of issuing NFTs for fundraising his election’s campaign this spring. Bitcoin (BTC), Ethereum (ETH), and up to three other cryptocurrencies are under consideration for the NFT sale.

Even the former first lady of the White House, Melania Trump, declared that she will be launching an NFT featuring a watercolour painting of her eyes along with “an audio recording from Mrs. Trump with a message of hope” in December 2021, to come out early this year.

Sneh Dokania is an Economics major student with an inquisitive disposition seeking to articulate facts, information and news stories in a candid manner on Clout News.

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