New York mayor gets his first paycheck in Bitcoins

Eric Adams does not see the fall in the price of Bitcoin as a problem. On the contrary, he believes it is a good time to buy.

Eric Adams - the newly elected mayor of New York City and apparently a crypto enthusiast - has once again shown his support for the basic cryptocurrency. He assessed that the recent price drop could provide some opportunities for investors and reaffirmed his previous stance by indicating that he would receive his first three payouts in BTC.

First three cheques to be paid out in BTC

It is safe to say that the new mayor has not changed his stance on BTC despite the recent price drops. In an interview with CNBC, Adams seemed unfazed by these adverse developments and indeed said that sometimes investors can deploy capital by investing in certain assets when they experience similar declines.

As he begins his new political role, the 61-year-old American has vowed to receive his next three payouts in Bitcoins instead of dollars. In his final speech, he confirmed his wish and said:

"I'm about to take my first three withdrawals in Bitcoins. I haven't received my first cheque yet.

It is worth noting that he is not the only US politician who wants to make money in cryptocurrencies. Before him, in south Florida, Miami mayor Francis Suarez has already announced that he will receive his salary in BTC.

During his campaign last year, Adams promised to transform New York City into a "cyber-security hub, an autonomous car hub, a drone hub and a bitcoin hub". It seems that this commitment is still on the agenda:

"We need to use blockchain technology, Bitcoin, with all other forms of technology. I want New York to be the hub of this technology."

Children should learn about BTC in schools

Last November, Adams doubled down on his support of crypto, describing bitcoin and alternative coins as "a new way to pay for goods and services around the world".

As such, he urged US schools to add a new subject to enable younger generations to learn about Bitcoin and its technology:

 "We need to open up our schools to teach technology".

The politician went on to suggest that his administration could allow local businesses to accept BTC and other digital assets as a form of payment. However, the initiative will be carefully studied beforehand, Adams explained.

10/01/2022 - Mr.Advice NEWS

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