NYC Mayor Eric Adams converted his paycheck into $BTC and $ETH as the prices dropped. 'The purpose of the bitcoin is to send a message that New York City is open to technology.' cryptocurrency
He was asked if he had any regrets about converting his paycheck into cryptocurrency before prices crashed. The mayor replied:
It’s the same when I invested in the stock market in my 401k. We saw a drastic drop during 2018 and at other times. When you are a long-term investor, you don’t keep your eyes on your portfolio. You buy low and, hopefully, you get the recovery that you desire. This was not the first time Adams was asked to comment about getting paid in bitcoin amid falling prices. In early January, he
: “Sometimes the best time to buy is when things go down, so when they go back up, you’ve made a good profit.”The purpose of the bitcoin is to send a message that New York City is open to technology. Adams further opined: “We want to see a large amount of new technology in the city of New York and encourage our young people to be engaged in these new emerging markets. And I’m excited about the future of this city and I’m excited about bringing my young people who have been historically denied access to new technology.”
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