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The mayor of New York Metropolis, Eric Adams, transformed his first paycheck into bitcoin and ether earlier than the value of the cryptocurrencies plummeted. Nevertheless, the mayor stated, “When you’re a long-term investor, you don’t maintain 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 know-how.
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 value of the cryptocurrency sank.
Adams lately transformed 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 after I invested within the inventory market in my 401k. We noticed a drastic drop throughout 2018 and at different instances. When you’re a long-term investor, you don’t maintain 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 stated: “Generally the very best time to purchase is when issues go down, so once they return up, you’ve made an excellent 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 know-how.
Adams additional opined: “We need to see a considerable amount of new know-how within the metropolis of New York and encourage our younger folks 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 know-how.”
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