Home Bitcoin News Bitcoin (BTC) Price Going Down As Politicians Continue to Endorse its Usage

Bitcoin (BTC) Price Going Down As Politicians Continue to Endorse its Usage

bitcoin politic

Michael Saylor said, “Bitcoin is digital property and you lived to see it.  For the first time in human history, we can grant property rights to 8 billion people.”  Pointing to Eric Adam’s statement, Michael Saylor stated, “Bitcoin is hope for New York.”

While all the good changes seem to be happening favoring BTC, the price is trending downside.

During the eve of the New York City’s mayoral race on Tuesday, Democratic front runner Eric Adams endorsed Bitcoin. 

Adams expressed, “I’m going to promise you in one year you are going to see a different city,” Further stated, “We’re going to become the Center of Life Science, the center of cyber security, the center of self-driving cars, drones, the Center of Bitcoin.”

Community response:  Confused now, where should we go? El Salvador, Miami, NYC.  Too many options now to spend Bitcoin.

NYC used to lead the world in finances, time to get back in the game. Time to adopt BTC.  NYS is a crypto hostile state. The NYC mayor cannot override NYS Bit license regulations. We aren’t allowed Kraken or Binance US accounts.

More bullish news is coming for Bitcoin and more of price dips is happening.  BTC is in the reverse of the rally.

In response to Adam statements, users felt like politicians say anything to get elected, anything. It this happens it would be great, but there are lot of obstacles in the form of politics.

For now NY is not a friend of crypto. The Bit license requirement was the most restrictive crypto enforcement for new businesses and New Yorkers in years.  Literally had to start an LLC in another state to legally trade crypto in NY without restrictions. There is no way any mayor of NYC is going to overrule the bitlicense. Will need to take it to state level.

Given that Adam’s has run as both a Democrat and a Republican – it doesn’t surprise me that he’d say anything to try and get elected.

Bitcoin at this stage looks like a spaceship which has done its duty, to enter orbit. It has to remain there to allow crypto blockchain development. Its value eventually follows the characteristic cycle of innovative startups, which slow down their rise despite the growing diffusion.

NYC like Adelaide has been in doldrums for a decade because of security communications issues and time wasting infrastructure. Crypto’s especially USA made coins could really shake up the opportunities for local and region business growth and navigate some shortfalls.

Read more about:
Share on

James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.

Get the latest updates from our Telegram channel.

Telegram Icon Join Now ×