Jersey City Mayor: 'I See Bitcoin as an Inflation Hedge'

IconCryptoNewsTerminal Staff26 Jul, 2024

cryptonews.jpg

Jersey City Mayor: 'I See Bitcoin as an Inflation Hedge'

Jersey City Mayor and New Jersey gubernatorial candidate Steven Fulop sees Bitcoin as an inflation hedge, he told Blockworks in an interview. "I think Bitcoin is going to continue to grow and be an inflation hedge," Fulop said. "I think it's a good investment for cities that are looking to diversify their portfolio." Fulop is not the only mayor who has expressed interest in Bitcoin. In 2021, Miami Mayor Francis Suarez announced plans to make the city the "crypto capital of the world." He has since launched a number of initiatives to attract crypto businesses and residents to the city. The growing interest in Bitcoin among mayors is a sign of the cryptocurrency's increasing mainstream acceptance. As more and more people see Bitcoin as a viable investment, it is likely to continue to grow in popularity.

Related News