Home Bitcoin News NYC Mayor Eric Adams Defends Receiving Paycheck in Bitcoin as Worth Crashes – Featured Bitcoin Information – Bitcoin Information

NYC Mayor Eric Adams Defends Receiving Paycheck in Bitcoin as Worth Crashes – Featured Bitcoin Information – Bitcoin Information

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The mayor of New York Metropolis, Eric Adams, transformed his first paycheck into bitcoin and ether earlier than the worth of the cryptocurrencies plummeted. Nevertheless, the mayor mentioned, “When you find yourself a long-term investor, you don’t hold your eyes in your portfolio.” He added that the aim of receiving a paycheck in bitcoin is to ship a message that New York Metropolis is open to expertise.

NYC Mayor Transformed Paycheck Into Bitcoin and Ether Earlier than Costs Tanked

New York Metropolis Mayor Eric Adams answered some questions in an interview with CNN Sunday about receiving his first paycheck in bitcoin simply earlier than the worth of the cryptocurrency sank.

Adams lately converted his first paycheck into bitcoin and ether by way of Coinbase. He promised to take his first three paychecks in bitcoin.

He was requested if he had any regrets about changing his paycheck into cryptocurrency earlier than costs crashed. The mayor replied:

It’s the identical once I invested within the inventory market in my 401k. We noticed a drastic drop throughout 2018 and at different instances. When you find yourself a long-term investor, you don’t hold your eyes in your portfolio. You purchase low and, hopefully, you get the restoration that you simply need.

This was not the primary time Adams was requested to remark about getting paid in bitcoin amid falling costs. In early January, he said: “Generally one of the best time to purchase is when issues go down, so after they return up, you’ve made a superb revenue.”

The mayor of New York Metropolis added:

The aim of the bitcoin is to ship a message that New York Metropolis is open to expertise.

Adams additional opined: “We wish to see a considerable amount of new expertise within the metropolis of New York and encourage our younger individuals to be engaged in these new rising markets. And I’m enthusiastic about the way forward for this metropolis and I’m enthusiastic about bringing my younger individuals who have been traditionally denied entry to new expertise.”

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Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.




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