Exploring How Much Mayor Eric Adams Has Gained from His Bitcoin Investments
How Mayor Eric Adams Bets on Bitcoin
Bitcoin price trends have enabled NYC Mayor Eric Adams to benefit tremendously from his decision to receive his paychecks in the form of BTC payments. Back in 2022, Adams made headlines and faced criticism for this move. Now, we analyze how this gamble has paid off for him.
Bitcoin Value Increases
At the time of each paycheck, the Bitcoin price was a fraction of what it is now. The first paycheck on February 1 was at $38,650, with subsequent pays at $43,230 and $45,530. Currently, the BTC price stands at a remarkable $102,632.
- First paycheck: BTC price - $38,650
- Second paycheck: BTC price - $43,230
- Third paycheck: BTC price - $45,530
Major Gains from BTC
The results are staggering; Adams’ investment of roughly $30,000 by accepting his paychecks in Bitcoin is now valued at about $72,834. This represents an average gain of 142.78% across his three payments.
- Initial investment: $30,000
- Current value: $72,834
- Net gain: $42,834
Final Thoughts on Cryptocurrency Investments
Adams' decision to support Bitcoin adoption and engage with the crypto community highlights the escalating acceptance of cryptocurrencies, though it lays bare the divided political landscape surrounding regulation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.