Bitwise’s Jeff Park has highlighted the meteoric Bitcoin surge over the decade, noting how this occurred through the terms of three New York Mayors.
Park, who heads Alpha Strategies at Bitwise Asset Management, recently pointed out that Bitcoin climbed from around $754 to over $106,000 during the same stretch of time that New York City cycled through three different mayors.
His comment connected the rise of Bitcoin with the city’s political timeline. Specifically, when Michael Bloomberg left City Hall in December 2013, Bitcoin’s price hovered just below $750. At that point, most people still saw it as a risky experiment rather than a serious investment.
Bitcoin Rises 14,597% Through Three New York Mayors.
Bill de Blasio took over in January 2014, and Bitcoin didn’t move much right away. However, as his two terms rolled on, the crypto asset started gaining traction, independent of political ties. By the time de Blasio wrapped up his final year in office in December 2021, Bitcoin had skyrocketed to about $47,000.
Eric Adams followed de Blasio and stepped into office in January 2022. Known for his pro-crypto stance, Adams announced that he would be taking his first few paychecks in Bitcoin.
The crypto market faced some ups and downs during his time in office, especially during the 2022 bear market, but the general trend stayed upward, as a recovery sprang up from 2023. Most recently, Adams vowed to make New York the crypto capital of the world.
Now, as the city heads toward its next election in November 2025, Bitcoin has passed the $106,000 mark. Particularly, within the period that New York rotated through Bloomberg to now Adams, Bitcoin has surged 14,597%, as highlighted in the chart.
Zohran Mamdani, a Democratic Socialist and a rising political figure, has taken the lead in the Democratic primaries after Adams withdrew to run as an Independent.
Because Democrats typically dominate New York politics, many expect Mamdani to win. Park referred to this expected change in leadership when he said the city had moved “from Bloomberg to Mamdani,” highlighting Bitcoin’s steady rise during the same period.
“Separate Money from State”
In his commentary, Park suggested that Bitcoin’s long-term growth has happened irrespective of the political changes happening around it. Notably, while new faces and ideologies come and go in government, Bitcoin continues to grow on its own terms.
Citing this reality, Park advocated for a separation of money from the state. Essentially, this call indicates a broader belief that people should take control of their financial future instead of relying on state-backed systems.
Mamdani’s rise also represents a break from the more centrist politics of previous mayors like Bloomberg and Adams. This political change comes parallel to a financial one, where more people, especially younger generations, look to assets like Bitcoin as long-term alternatives to traditional finance and government oversight.
Meanwhile, after suffering a brutal period over the weekend, Bitcoin has recovered considerably. During this press, Bitcoin currently trades for $107,567, up 2.76% this month.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
