He gave these comments during a recent interview at CNBC’s Squawk Box. The Mayor touched on a variety of topics in the interview but it was regarding crypto investment that made the headlines.
Gone are the days when crypto was less mainstream and politicians were uneasy talking about it in public. Now, the next generation of crypto users have arrived and many of them are finding their way in politics. While Eric Adams is 61-years old and not a millennial or Generation X person, the main target audience for the crypto sector, he is still a popular crypto guy and wants to do a brand of pro-crypto politics that his own party (Democratic) is failing miserably to tap into and creating more opponents than supporters.
Eric Adams, “Crypto New York Mayor”, recently did a full length interview with CNBC’s Squawk Box regarding the crypto sector. Adams famously decided to accept his first three salaries as a Mayor in Bitcoin. With this, he became only the second Mayor in US history to start getting his pay in crypto. When asked about it, Adams replied that he hadn’t yet received his pay because he had just been sworn to office but was looking forward to it. He seemed determined to turn things around in New York City and turn it into a pro-crypto destination.
This is going to be an uphill task for Adams as the overall New York state has had famously very crypto-skeptic laws that overcomplicated the process and made owning crypto a nightmare. This is why many of the top crypto exchanges and wallet service providers refused to offer their services in the state. Now, however, things are clearing up and a new group of pro-crypto Democrats are leading the way.
Here is the interview:
“Sometimes the best time to buy is when things go down,” says @NYCMayor on #bitcoin. “I’m going to take my first three paychecks in #bitcoin. I haven’t received my first check yet.” pic.twitter.com/dqGkVYxOKg
— Squawk Box (@SquawkCNBC) January 6, 2022
Crypto New York Major’s investment advice was also quite sound overall and resonated with the crypto community. However, politicians promoting crypto are always on a slipper slope. This is because he is now on record asking people to invest in crypto. If the market crashes, this advice can be used against him to try and prove that he is irresponsible and such. The markets can be cruel and sometimes people lose money and are looking to blame someone for it. But at least Adams is doing what most in his party are failing to tap into; the vast crypto community.
Image Source: pixabay.com
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