New York City Mayor Eric Adams remains bullish on Bitcoin (BTC) amid a downturn that saw the flagship cryptocurrency plummeting below $43,000.
In a new interview on CNBC’s Squawk Box, Adams cites the upsides of buying the leading crypto asset by market cap during the dip.
“Sometimes the best time to buy is when things go down so when they go back up, you’ve made a good profit.”
In November, Adams promised on Twitter that he will receive his first three paychecks in Bitcoin when he becomes mayor. This would make him the first politician to accept a crypto salary.
“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, of all other forms of technology and I want New York City to be the center of that technology.
I’m looking forward to that first paycheck in Bitcoin.”
Adam is pushing to make New York City the capital of crypto.
Last year, the Big Apple saw the launch of its first-ever cryptocurrency, the NewYorkCityCoin (NYCCoin), following a tweet from then Mayor-elect Adams that he wants the city to have its own digital asset.
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