Bitcoin bull calls US mayors competition for bitcoin primacy ‘fantastic’
Updated
Outspoken bitcoin bull Cathie Wood, founder and CEO of Ark Invest, enthusiastically welcomed “friendly competition” between US mayors looking to make their cities bitcoin-friendly.
During Ark’s November market update for investors, Wood mentioned a recent Twitter exchange between Miami mayor Francis Suarez and incoming mayor of New York City Eric Adams as one of the “very good moments for bitcoin”.
In a Twitter post on 2 November, Anthony Pompliano, crypto analyst and author of the Pomp newsletter, wrote: “It is time. Who is going to be the first American politician to accept their salary in bitcoin?”
Miami’s Suarez responded with “I’m going to take my next paycheck 100% in bitcoin…problem solved!”
In response, Adams said: “In New York, we always go big, so I’m going to take my first THREE paychecks in bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!”
The statements were seen as clear political endorsements for cryptocurrencies.
“So we have some friendly competition,” Wood said. “They both want bitcoin in their states – bitcoin developers and ecosystem, which is fantastic.”
Bitcoin above all
Wood also highlighted Square CEO Jack Dorsey’s comment that the digital payments company does not intend to expand to cryptocurrencies beyond bitcoin as a “very good moment” for the cryptocurrency.
“Our focus is on helping bitcoin to become the native currency for the internet,” Dorsey said.
“We thought that was very interesting,” Wood said.
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