Crypto-Friendly New York City Mayor Continues To Show Support For Digital Assets

The mass adoption of digital assets has been going great despite the hardships that the crypto industry has been seeing. Check out the latest reports about important names that support digital assets.

It’s been just reported that the New York City mayor Eric Adams’ stance on crypto is reportedly undeterred by the recent collapse of the FTX exchange.

Adams has converted his first three paychecks into Bitcoin (BTC) and Ethereum (ETH). It’s important to note the fact that this happened after winning the mayoral race in New York City.

Amidst the crypto winter further pummeled by the implosion of the industry’s second-largest exchange, Bloomberg made sure to reveal the fact that the local executive still sees an opportunity for supporting blockchain and digital assets.

City Hall spokesman Jonah Allon, who issued the statement on behalf of Adams, said that the value of crypto assets normally goes up and down.

“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 won’t experience long-term growth.”

During an interview on CNBC earlier this year, Adams said there are upsides to buying crypto assets during the dip.

“Sometimes the best time to buy is when things go down so when they go back up, you’ve made a good profit.”

A popular crypto strategist is mapping out what’s in store for Bitcoin (BTC) after the implosion of crypto derivates exchange FTX.

Pseudonymous analyst Cred said that in the aftermath of FTX’s collapse, only two price levels matter for Bitcoin.

“The first is this $20,000 price cycle high, which [has been] our range low for a few months. The next is this pre-bull market breakout shelf closer to $11,000 or $12,000.” Stay tuned for more news from the crypto space.