New York City Democratic mayoral front runner Eric Adams said he would turn the city into a bitcoin hub within a year, rivaling Miami for the position as the epicenter of the US crypto community.
The price of bitcoin has steadied on Friday, following a tumultuous week that took it to new lows for 2021.
Crypto analysts remain divided over the short and medium-term direction of the market, though major investors like MicroStrategy continue to “buy the dip”.
The relative stability had a calming effect on the broader cryptocurrency market, with Ethereum (ether), Cardano (ada), and dogecoin all moving by less than a few percent overnight.
But amid the continuous shifts in the crypto market, Eric Adams announced his plan to turn New York City into a bitcoin hub.
Adams mentioned that his competition is with Miami which is emerging as the crypto hub recently. He said that New York City will soon steal the crown of Miami.
Eric Adams is the only mayoral Front Runner in NYC who managed to bring together the Black and Latino voters in the city and hence, Adams has more chances to get elected this time.
Notably, Adams is not the only Democratic Front Runner of NYC who advocated cryptocurrency, there was another crypto geek, Andrew yang who also stated that he will turn the city into the center of bitcoin but he only secured 11.7% of the total votes and dropped out of the race.
One of Adams’ donors is an early crypto investor and former child actor Brock Pierce, who gave $2,000 to the front-runner’s campaign in December, public records show. According to the New York City Campaign Finance Board, Pierce has given $10,000 to New York City politicians.
According to the New York City Campaign Finance Board, Pierce has given $10,000 to New York City politicians.
Meanwhile Adams, the main runner for the mayoral race, stands firm in its vision of competing to be a Bitcoin development hub. “We’re going to become the center of life science, the center of cybersecurity … the center of bitcoins,” said Adams.