Purchase Bitcoin At The Current Price Drop - New York City Mayor.

Purchase Bitcoin At The Current Price Drop - New York City Mayor.

2022-01-07 | Daniel Smith

Purchase Bitcoin At The Current Price Drop - New York City Mayor.

Newly assumed New York City Mayor Eric Adams is reportedly utilizing his clout to advocate for purchasing the latest Bitcoin drop.

In an appearance with CNBC's Squawk Box on Thursday, Adams stated that he has not gotten his inaugural salary as mayor of New York City, but maintained his desire to create the metropolitan area a Bitcoin (BTC) and cryptocurrency hotspot. When co-anchor Andrew Ross Sorkin reminded that the value of the cryptocurrencies had "fallen off," plunging as far as $43,000 earlier on Thursday, the mayor of New York appeared unfazed.

Adams, who was elected mayor of New York City in November, is in power for five complete days. He succeeds Bill de Blasio. Throughout his race, Adams promised to establish New York City a tech powerhouse that would be "the heart of information security, self-driving cars, drones, and BTC," defeating crypto-friendly billionaire Andrew Yang to earn the Democratic Party's candidacy.

As a component of his attempts to push cryptocurrency and blockchain technology — or may be motivated by a light-hearted quarrel with Miami Mayor Francis Suarez — Adams stated after the vote that he would collect his initial three salaries in BTC.

Suppose the mayor of New York takes a basic salary of $258,750, his monthly payments will be around $21,562, for a cumulative of 1.51 BTC at a cost of $42,948.

New York State is frequently the focus of press interest when it comes to cryptocurrency legislation and compliance in the United States. The lawsuit involving Bitfinex and Tether was settled by the New York Attorney General's office, which decided to give $18.5 million in penalties and forced Coinseed to shut its gates after the business reportedly duped investors away from over $1 million.

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