{"id":415160,"date":"2022-03-12T16:41:20","date_gmt":"2022-03-12T13:41:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/eric-adams-down-on-bitcoin-bets-he-invested-paychecks-in\/"},"modified":"2022-03-12T16:41:20","modified_gmt":"2022-03-12T13:41:20","slug":"eric-adams-down-on-bitcoin-bets-he-invested-paychecks-in","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/eric-adams-down-on-bitcoin-bets-he-invested-paychecks-in\/","title":{"rendered":"#Eric Adams down on bitcoin bets he invested paychecks in"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a32e3d83f919\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a32e3d83f919\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/eric-adams-down-on-bitcoin-bets-he-invested-paychecks-in\/#%E2%80%9CEric_Adams_down_on_bitcoin_bets_he_invested_paychecks_in%E2%80%9D\" >&#8220;Eric Adams down on bitcoin bets he invested paychecks in&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CEric_Adams_down_on_bitcoin_bets_he_invested_paychecks_in%E2%80%9D\"><\/span>&#8220;Eric Adams down on bitcoin bets he invested paychecks in&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Hizzoner has given himself a pay cut.<\/p>\n<p>Mayor Eric Adams could be down about $600 \u2014 or 3 percent \u2013 in his cryptocurrency portfolio, according to a Post analysis.<\/p>\n<p>The cryptocurrency-curious politician promised to put his first three paychecks \u2014 after taxes and other deductions \u2014 into the two largest cryptocurrencies, Bitcoin and Ethereum.<\/p>\n<p>Adams\u2019 buys were a bid to boost New York\u2019s crypto scene over Miami, whose mayor made a similar promise.<\/p>\n<p>City Hall declined to share the breakdown of his purchases, or say whether has bought or sold any crypto since cashing his first three checks.<\/p>\n<p>But, assuming he split his first three checks evenly between the two coins, and bought at the day\u2019s average price, Adams would be down about $592 as of Saturday morning.<\/p>\n<p>That loss is about 3 percent of his $17,864.40 cash investment \u2014 the total if he put his entire first three checks, after taxes but before other deductions \u2014 into crypto on Jan. 21, Feb. 4, and Feb. 18. The crypto value would have fallen to $17,271.54.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/coins-708.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Ethereum.\" class=\"wp-image-21506787\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/coins-708.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/coins-708.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/coins-708.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Adams promised to put his first three paychecks \u2014 after taxes and other deductions \u2014 into the two largest cryptocurrencies, Bitcoin and Ethereum.<\/figcaption><figcaption><span class=\"credit\">Jordan Mansfield\/Getty Images<\/span><\/figcaption><\/figure>\n<p>The mayor earns $258,750 per year \u2014 or about $5,900 per biweekly check, after taxes but before other credits or deductions.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>He made the Jan. 21 purchase through a direct deposit to Coinbase, a publicly-traded crypto exchange, City Hall said at the time.<\/p>\n<p>Bitcoin is down about 18 percent since the start of the year. Ethereum is down an eye-watering 31 percent. But it\u2019s been a volatile few months, with sharp ups and downs, and  Adams\u2019 first purchase in January came when coin prices were very low \u2014 so even as he lost money on his next two purchases, his early gains partially offset those later losses.<\/p>\n<p>Hizzoner might have been better off just investing the old-fashioned way.<\/p>\n<p>The S&amp;P 500 \u2014 a stock index that tracks the performance of the largest 500 companies publicly-listed in the United States \u2014 was only down 12 percent since the start of the year. And, unlike Bitcoin, it pays dividends.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/03\/12\/eric-adams-down-on-bitcoin-bets-he-invested-paychecks-in\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Eric Adams down on bitcoin bets he invested paychecks in&#8221; Hizzoner has given himself a pay cut. Mayor Eric Adams could be down about $600 \u2014 or 3 percent \u2013 in his cryptocurrency portfolio, according to a Post analysis. The cryptocurrency-curious politician promised to put his first three paychecks \u2014 after taxes and other deductions&#8230;<\/p>\n","protected":false},"author":1,"featured_media":415161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/03\/adams-crypto.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,126668,76127,66147],"class_list":["post-415160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-3-12-22","tag-cryptocurrency","tag-eric-adams"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=415160"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/415160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/415161"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=415160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=415160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=415160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}