It was claimed that this approach to cryptocurrencies had a great impact on the election of New York Mayor Eric Adams, who drew attention with his support for cryptocurrencies during the election process in the US state of New York.
Eric Adams announced during the election period that he would receive his first salary in Bitcoin and Ethereum after being elected mayor of New York. The Mayor of New York kept his promise. According to the statement, Adams' paycheck today has been converted to Bitcoin and Ethereum. The presidential office announced that the paycheck was converted through Coinbase.
President Adams said in a statement:
“New York is the center of the world and we want it to be the hub of cryptocurrency and other financial innovations. Being at the forefront of such innovations will help us create jobs, develop our economy and continue to be a magnet for talent from around the world.”
Adams recently evaluated the decline in Bitcoin and said that this decline is a buying opportunity.
Michael Saylor Says He Won't Sell Bitcoin Despite Decline
In an interview with Bloomberg, Michael Saylor said that he realized that bitcoin is more valuable against the dollar and that fiat currencies are garbage. When asked if there is a specific price for selling the more than 120,000 Bitcoins he holds, Saylor said: "No, we are not sellers, we just buy and hold. That's our strategy." said.
MicroStrategy, which is in a serious profit despite the decrease of the Bitcoin price by 40% from the highest level of 69,000, paid 3.75 billion dollars, according to data from bitcointreasuries.net, the current value of the bitcoins is $5.28 billion. All of MicroStrategy's purchases in 2021 were higher than the current bitcoin price. The company takes a loss if bitcoin drops below $30,000. Saylor in his interview: "The best defense against inflation is to buy Bitcoin. Our company couldn't do better than converting our balance sheet to bitcoin in these days of high inflation." made statements.