The mayor of New York is still confident in the long-term growth of the sector.
Eric AdamsMayor of New York City, In recent years it has stood out as one of the benchmarks of cryptocurrencies in the global political arena. With the recent bearish events – mainly the collapse of the FTX exchange – the American does not change his mind and remains optimistic about the future of the market.
Jonah AllenTown Council spokesperson, testified on behalf of Adams and addressed questions about the mayor’s pro-crypto stance in the cryptocurrency market. As the official explained, his philosophy has not changed even because of the FTX crisis nor will it be for the negative events that may come.
“As with all financial products, price fluctuations are an expected feature of the market and It is shortsighted to believe that setbacks in an industry are an indication that it will not experience long-term growth.“expressed Screen in dialogue with Bloomberg.
Read more: ► New York mayor opposes state mining ban
However, the spokesperson was cautious in delivering a message to New Yorkers, explaining that while Adams supports the innovation and economic growth that cryptocurrencies could bring to the city, it does not necessarily recommend that the population invest in it.
autumn buyer
Like El Salvador’s president Nayib Bukele, Adams has also been supportive of investing in cryptocurrencies in bearish periods. “Sometimes, the the best time to buy is when things go down, then when they go up again, you made a good profit“he pointed Adams earlier in the year, as bitcoin (BTC) and major altcoins plummeted after the Terra crash.
Keep reading:
► Another US city plans to accept bitcoin for utility payments
► El Salvador promises to buy one bitcoin a day and opens up a new challenge in the market
► Tom Brady and Larry David face class action lawsuit for promoting FTX
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