Phil Banks bought between $15k and $150k in BTC and ETH

New York City Deputy Mayor Phil Banks said he has purchased Bitcoin and Ethereum worth between $15,000 and $150,000, revealing himself to be a crypto-investor.

New York: Phil Banks and the purchase of Bitcoin and Ethereum

Phil Banks, deputy mayor of New York, revealed that he is also a crypto-investor, claiming to have purchased Bitcoin (BTC) and Ethereum (ETH) worth between $15,000 and $150,000. 

JUST IN: NYC Deputy Mayor of Public Safety disclosed that he bought between $15,000 and $150,000 worth of #Bitcoin & #Ethereum.

— Watcher.Guru (@WatcherGuru) August 16, 2022

“NYC Deputy Mayor of Public Safety disclosed that he bought between $15,000 and $150,000 worth of Bitcoin & Ethereum”.

Apparently in New York, crypto assets are targets of interest for many government officials. 

Not only that, Banks also said that his net worth has tripled in the past eight years. In addition to cryptocurrencies, Banks has invested in Tesla Inc., Apple Inc. and Meta Platforms Inc.

New York and government officials who are pro-bitcoin and crypto

When thinking of New York City, it is impossible not to mention its mayor Eric Adams, who already during his campaign said he was pro-Bitcoin and wanted to turn the city into a “Bitcoin hub”.

Upon becoming mayor last November 2021, Adams immediately spoke publicly about wanting to receive his salary in BTC. To be specific, it was his first three salaries in Bitcoin. 

It was something that came up via a tweet from him in a discussion that also involved Miami Mayor Francis Suarez, in which he too announced that he wanted to receive his next salary in BTC. 

Anthony Pompliano, the author of that discussion, pointed out that a kind of competition had begun between the two mayors, who have made themselves outright promoters of the crypto sector. 

BTC’s price performance has been overtaken by memecoins

Meanwhile, during yesterday’s day, the price performance of the memecoins Dogecoin (DOGE) and Shiba Inu (SHIB) was analyzed, which seems to have surpassed that of the crypto queen Bitcoin (BTC). 

And indeed, in the past seven days, DOGE had recorded a price pump of +22%, while SHIB +29%, compared to the 2.9% recorded by BTC. 

In the last 24 hours, the situation does not seem to have changed. While BTC is up just +1% at the price of $24.138, DOGE is +10% and SHIB +2.80%.