New York Mayor Says He Doesn't Regret Receiving His Salary In BTC!
Eric Adams, who served as the 110th Mayor of New York City, can be described as one of the rare politicians in America to support BTC after the Mayor of Miami . With the price of Bitcoin falling for the last 1 month, the decreases of BTC deepened on Monday, January 24, 2022.
Eric Adams, who received BTC payment on Friday (January 21, 2022), was asked about the subject. Today (Friday 24, 2022) Bitcoin price dropped from $41,000 to $35,000. Thus, Adams' first paycheck was cut by about 15%.
Yesterday, January 23, 2022, a CNN reporter asked Eric Adams:
How much money did you lose and do you have any regrets?
Eric Adams glossed over this subject a bit and replied:
We saw such a decline when I first invested in the traditional stock market. The reason I agreed to receive a salary in Bitcoin shows that New York is a tech-savvy city. We want to see a huge amount of new technology in New York City and encourage our youth to participate in these emerging markets.
Adams announced that he will receive his first three paychecks in Bitcoin.
How Does Adams Get His Salary In BTC?
Due to United States Department of Labor laws, payment is received in US dollars first. Then, BTC is purchased on the cryptocurrency exchange Coinbase.