Bitcoin will help New York to send a message to the world that the city is open to adopting new and innovative technologies, said mayor Eric Adams. He also showed no regrets about receiving his first paycheck in BTC amid the market meltdown. Bitcoin Sends a Message Ever since last year’s elections, Eric Adams has displayed a pro-cryptocurrency approach, insisting that he will receive his first paychecks in BTC and also transform the Big Apple into a bitcoin hub. While his words seemed like nothing more than a pre-electoral promise to some, Adams indeed went on to receive his first check in BTC and ETH. He said the next two ones will also be in the form of the cryptocurrencies. The mayor’s entrance into the digital asset space came at a bleak time, though. The landscape now
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Bitcoin will help New York to send a message to the world that the city is open to adopting new and innovative technologies, said mayor Eric Adams. He also showed no regrets about receiving his first paycheck in BTC amid the market meltdown.
Bitcoin Sends a Message
Ever since last year’s elections, Eric Adams has displayed a pro-cryptocurrency approach, insisting that he will receive his first paychecks in BTC and also transform the Big Apple into a bitcoin hub.
While his words seemed like nothing more than a pre-electoral promise to some, Adams indeed went on to receive his first check in BTC and ETH. He said the next two ones will also be in the form of the cryptocurrencies.
The mayor’s entrance into the digital asset space came at a bleak time, though. The landscape now is entirely different than what it was when he first promised to get his paychecks in bitcoin. That was in November 2021 as BTC was heading toward its peak of $69,000.
Since then, the asset has lost roughly 50% of its value and now struggles around $35,000. Yet, Adams doesn’t seem to care much about this, at least according to his words from a recent CNN interview.
He noted that long-term investors do not pay attention to short-term price fluctuations as they remain focused on the bigger picture. That bigger picture is to allow New York City to send a message:
“The purpose of the Bitcoin [adoption] is to send a message that New York City is open to technology.”
Bitcoin and Blockchain in Schools?
Shortly after getting elected as the new mayor of New York City, Adams outlined another plausible initiative that will enhance the mass adoption of bitcoin and its underlying technology.
As reported in November, the ex-police officer said his staff will carefully examine how they could add blockchain and bitcoin to schools and allow the younger generations to study new technological ways about innovative financial tools.
Adams is yet to address this manner after taking office, but keeping his promise to get his first paychecks in BTC is promising enough for the crypto community that tides might be changing with those in power in the US, at least.