According to the mayor of New York City Eric Adams, his first three paychecks will be in Bitcoin (BTC). Adams had earlier made this known before becoming mayor of the prominent American city. Speaking to CNBC’s Squawk Box, the mayor doubled down on the payment plan and touched on the recent BTC price development.
Since the beginning of December last year, BTC has been stuck in a trading range, fluctuating between $45,000 and $52,000. After dropping as low as $43,000, on January 6th, Adams was asked in the media outing if he had already received the first of his BTC paychecks. The mayor first responded by choosing to see the good in the current BTC price slump before stating that he hadn’t received payment. As he put it:
“Sometimes the best time to buy is when things go down, so when it goes back up you make a good profit. But yes 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, and all other forms of technology. I want New York City to be the center of that technology. So I’m looking forward to that first paycheck in Bitcoin.”
As of press time, BTC is trading just a hair below $43,000 at $42,917.33.
Image Credits: Pixabay
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