Home arrow Article arrow Article Detail

New York City Mayor will receive his first three paychecks in cryptocurrency

Profile Image

Pavan A Follow


Jan, 11 2022

Jan, 11 2022

likes 0 | comments 0

Article Image

Eric Adams, a newly sworn-in New York City mayor, is already advising new and upcoming investors on buying recent Bitcoin dips.


Eric Adams spoke to CNBC's Squawk Box about Bitcoin and its price following the latest dip in its price. Adams stated that he would accept Bitcoin for his first three paychecks before being elected mayor. When asked whether he received the Bitcoin check, he replied, “Sometimes the best time to buy is when things go down, so when it goes back up you make a good profit.”


He added, "But yes I’m going to take my first three paychecks in Bitcoin. I haven’t received my first check yet, but I think we need to use the technology of blockchain, Bitcoin, and all other forms of technology. I want New York City to be the center of that technology. So I’m looking forward to that first paycheck in Bitcoin."


As mayor of New York City, Adams has been in office for five full days after winning a November election. He replaces Bill de Blasio.


As a result of crypto regulation and enforcement in the United States, New York state is often at the center of media attention.


After falling as low as $43,000 on January 6, bitcoin (BTC) has once again risen to the top of the debate after trading sideways between $45,000 and $52,000 since early December.


Bitcoin is a digital currency that has been gaining momentum in the last few years. The system is decentralized and provides protection against inflation; this attribute has attracted millions of users globally. Bitcoin transactions are processed by a network of computers connected to each other, and all activity is publicly recorded on a blockchain. 


likes 0 Likes | comments 0 Comments

Profile Image

Pavan A

CBW - External Analyst


Disclaimer: The information is for informational purposes only.​ This advertisement does not constitute financial advice or any other advice. You should consult with a financial professional to determine what may be best for your individual needs. None of the information and/or content available through this advertisement is intended as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any company, financial product, security or commodity. To the maximum extent permitted by law, we disclaim any and all liability in the event any information, commentary, analysis, opinions, advice and/or recommendations prove to be inaccurate, incomplete or unreliable or result in any investment or other losses. In Making the investment decision, investors must rely on their own examination of the issuer and the terms of the offerings, including the merits and risks involved. Investments are speculative, illiquid, and involve a high degree of risk , including the possible loss of investment.