Eric Adams, the current Mayor of New York (NY) city, spoke with CNBC this Thursday and took the opportunity to answer questions about Bitcoin (BTC).
When asked about the recent crash of Bitcoin, the Mayor said that sometimes this is the best time to buy.
Elected as 110th Mayor of New York City in November 2021, after being elected Adams announced for the first time that he would receive his first three salaries in Bitcoin in Nov. According to the Mayor, having started his term on January 1st, he has not yet received his first paycheck.
In an interview this Thursday, Eric Adams reaffirmed his enthusiasm for blockchain technology and the use of Bitcoin. Far beyond receiving his salary at BTC, the NY mayor also wants schools to teach about cryptocurrencies.
The show’s host, Andrew Sorkin, questioned whether the Mayor had already received his first salary in BTC and asked for his remarks on falling bitcoin prices; the Mayor said that he hasn’t received his first paycheck yet but assured hir first paycheck would be in BTC, also claimed that it the best time to buy BTC when it falls.
“Sometimes the best time to buy is when things go down…I’m going to take my first three paychecks in bitcoin. I haven’t received my first check yet.”
"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
The NY mayor recalled that he has only been in office for five days and that he is still willing to receive his first three salaries in BTC. Finally, he reaffirms his desire for New York to be the center of technologies like Bitcoin.
While bitcoin is a better form of money than fiat currencies such as the dollar, its short-term volatility can scare anyone who wants to earn their salary in Bitcoin.