[Bitcoin Now] Bitcoin Rises to 79 Million Won Amid New York Mayor's Consecutive Bold Moves

Eric Adams, New York's New Mayor, Says "Bitcoin and Cryptocurrency Should Be Taught in Schools"
Criticism Raised Over Potential Conflict of Interest

[Asia Economy Reporter Gong Byung-sun] The leading cryptocurrency Bitcoin has risen to the 79 million KRW range. It is interpreted that the bold moves of Eric Adams, the newly appointed mayor of New York City, have influenced the cryptocurrency market.

According to the domestic cryptocurrency exchange Upbit, as of 1:16 PM on the 8th, Bitcoin recorded 79.05 million KRW, up 3.29% from the previous day. Bitcoin, which had been fluctuating around 74 million KRW earlier this month, has risen for two consecutive days following a 2.63% increase the day before.

Mayor Adams’ crypto-friendly actions appear to have had a positive impact. On the 7th (local time), Mayor Adams stated in an interview with CNN, “We need to teach Bitcoin and cryptocurrencies in schools,” adding, “Bitcoin is a new payment method for goods and services, and young people need to be aware of this.”

Adams, who was elected as the new mayor of New York on the 2nd, declared immediately after taking office that he would make New York a cryptocurrency-friendly city. Shortly after, he also announced that he would receive his salary in Bitcoin. On the 4th, he tweeted, “I will receive my first three months’ salary as mayor in Bitcoin,” and said, “New York will be the center of rapidly growing innovative industries, including the cryptocurrency industry.”

[Image source=AP Yonhap News]

Recently, more U.S. politicians have been expressing favorable views toward Bitcoin. On the 2nd, Francis Suarez, mayor of Miami, announced on Twitter that he would become the first politician to receive his salary in Bitcoin. Last month, he also introduced a policy to pay Miami city workers’ wages in Bitcoin.

However, criticism has been raised regarding Mayor Adams’ actions. Harvard professor Jason Furman emphasized, “Mayor Adams’ actions constitute a conflict of interest by buying stocks first and then implementing policies that benefit those stocks,” and warned, “His cryptocurrency policies will have a negative impact on New York City’s economy.”

This content was produced with the assistance of AI translation services.