CRYPTO

Bitcoin Bull at City Hall: Meet the Crypto Mayors of America

As 2021 draws to a close, Bitcoin (BTC) has made a turbulent journey this year, with wild price changes that have seen the leading cryptocurrency reach all-time highs only to return to lower prices – with a 50% drop that has shaken the market. Now, Bitcoin is back again and has become stronger than ever, even recently surpassing its all-time high.

The volatile market value of Bitcoin is shifting to one side, it seems that some politicians have recognized the potential of Bitcoin, a wave of mayors across the United States has expressed bullish sentiment.

From Florida to New York, there is a seemingly growing tendency among politicians, especially city mayors, to support the adoption of bitcoin.

Here’s a look at some of America’s mayors who have expressed bullish feelings about the leading cryptocurrency.

New York City Mayor-elect Eric Adams

U.S. mayors are pushing for digital assets, including New York City’s newly elected mayor, Eric Adams, who has promised to take his first three paychecks in Bitcoin. Adams’ move was in response to a Miami mayor’s announcement two days ago that he plans to accept his next paycheck in full on Bitcoin.

Adams, a former police officer with a reputation for being tough on crime, said in a tweet that “we always grow up in New York, so I’m going to take my first three paychecks on Bitcoin.”

Adam further tweeted that “NYC is going to be the hub of the cryptocurrency industry and other fast-growing, innovative industries.”

The newly elected mayor also spoke to Bloomberg, saying he would “see what is hindering the growth of bitcoin and cryptocurrency in our city.”

Mayor-elect Adams has been a bitcoin bull for some time, before he promised to turn New York City into a bitcoin hub. Adams further suggested that schools incorporate cryptocurrency and blockchain technology into their curriculum.

Miami Mayor Francis Suarez

Since his election, Adams has been discussing with Miami Mayor Francis Suarez who the big bitcoin bull is. Suarez, who has been re-elected for another term after serving as mayor of Miami since 2017, claimed in a tweet that he would take his next paycheck “100% in bitcoin”.

As part of Miami’s plans to become the crypto capital of the United States, Suarez said the city plans to issue a digital wallet to its citizens that would be used to extract bitcoin yields from the city’s crypto stash.

Although some reports have suggested that U.S. law prohibits certain states from possessing volatile assets, the mayor of Miami remains adamant, claiming that his highest priority is to run the city without taxes. Suarez has previously stated that he wants to pay the city workers in crypto.

Cool Valley, Missouri Mayor Jason Stewart

In the small town of Cool Valley, Missouri, Mayor Jason Stewart has announced that he wants to pay up to বাস 1,000 per resident in Bitcoin in response to the growing adoption of cryptocurrency.

The environmentalist mayor believes that bitcoin can improve the fortunes of the city by establishing bitcoin mining facilities and other related activities. Stuart further believes that bitcoin education holds the key to increasing wealth and prosperity in the region and he hopes to one day see a bitcoin-friendly bank in the city.

In an interview with Cointelegraph Magazine, Stuart said that “most of it is about correcting the mistakes of the past financial system. In the past, we did not have access to this amazing technology that comes into our financial system and our value conservation today.”

Like the mayor of Miami, Stuart Cool plans to distribute Bitcoin to the people of the Valley, through a scheme funded by private donors who aim to increase the use and adoption of digital resources.

The mayor of Missouri has been a bitcoin bull since 2015, when he worked for a tech startup that served wealthy clients and was paid in bitcoin.

Scott Conger, Mayor of Jackson, Tennessee

In the wave of cities across the US nearing the acceptance of Bitcoin, the city of Jackson, Tennessee will not lag behind. With the belief that Bitcoin is the only solution to the devaluation of the US dollar and the declining inflation in the world economy at the moment, the mayor of the city, Scott Conger, has announced that he will study possible ways to enable a blockchain task force. Paying property taxes in the city using bitcoin.

Mid-July, Conger Tweet: “Why do we accept inflation? Why don’t we demand more from our federal government? 6.3% in 2 years. 172.8% in my lifetime. Every year the value of our dollar decreases. There is no rebound. There is only one solution for this .. #Bitcoin. “

Like other mayors, Conger has expressed interest in exploring options that would allow city employees to receive their paychecks in cryptocurrency. The mayor plans to undertake bitcoin mining activities and add BTC to the city’s balance sheet. In addition to Bitcoin, Conger has pointed to Ether (Ether) and Litecoin (LTC) as potential means of payment between the city’s financial activities.

Tampa, Florida Mayor Jane Castor

Tampa Mayor Jane Castor has also joined the fight for mayors in neighboring U.S. cities who are keen on Bitcoin. A few days after Miami Mayor Suarez announced plans to get a bitcoin paycheck, Castor followed suit.

Castor made the announcement on the second day of the Florida Bitcoin and Blockchain Summit, which was held at Amalie Arena in downtown Tampa.

Increasingly bullish feeling

In addition to American mayors adopting bitcoin and blockchain technology, other leaders in the country and around the world are beginning to realize the benefits of bitcoin and cryptocurrency. U.S. envoys Tom Emer and Darren Soto, for example, sent a letter to the Securities and Exchange Commission urging approval of the Bitcoin ETF in the United States, which many viewers believe could establish a bullish trend for Bitcoin and legitimize cryptocurrency.

Even traditional financial institutions that have crashed on Bitcoin are beginning to recognize that cryptocurrency and blockchain technology are the primary means of revolutionizing the financial industry. For example, the chief operating officer of Bank of America recently claimed that blockchain and cryptocurrencies could improve the performance of banks.

In Australia, Commonwealth Bank – one of the largest banks in the country with around 16 million customers – has announced plans to integrate Bitcoin into its services. Across all crypto spaces, a wave of bullish news continues to emerge, with Bitcoin initially appearing for upward momentum.