The Mayor of New York believes the drop in Bitcoin prices is an opportunity to buy
The Mayor of New York City, Eric Adams, is not deterred by the decline in Bitcoin and states that buying the Dip can bring “good returns”.
Adams, a former New York City Police Chief and District President of Brooklyn, took office as the 110th Mayor of New York City on January 1, 2022. Last November, the mayor announced that he would receive his first three salaries in bitcoin.
In an interview with CNBC on Thursday (Jan. 6), Adams shared his thoughts on this week’s price drop and its impact on wages paid in Bitcoin:
“Sometimes the best time to buy is when things are down. So when things go up again you will be profitable.”
“Yes, I will receive my first three payments in Bitcoin,” Adams confirmed, but noted that “I have not received them yet”.
Adams repeats his crypto plans:
“I think we have to use blockchain technology, bitcoin and all sorts of other technologies. I want New York City to become a technology hub, so I’m looking forward to my first BTC salary. “
At the time of writing, BTC has fallen more than 10% in the last seven days and is currently trading at $ 41,778.
BTC price chart | Source: Tradingview
Several other US mayors such as Mayor Francis Suarez of Miami, Scott Conger of Jackson and Jane Castor of Tampa have also announced that they want to receive their salaries in BTC .
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