Jersey City, USA Mayor: Bitcoin Is an Inflation Hedge, Personally Also Holds ETH

Jersey City mayor and New Jersey gubernatorial candidate Steven Fulop said the city's pension fund is investing in a Bitcoin ETF as an "inflation hedge," noting that the investment is meant to be an inflation hedge and that he personally holds ETH in addition to BTC. Fulop said of the rising cost of living in the state and across the country, "The last few years have been very, very tough and it seems to be getting worse rather than worse. the rising cost of living in the state and across the U.S., saying, "It's been very, very tough the last few years, and it seems to be getting worse, not better." BTC is an "important and relevant asset class" that is "commonly" held by governments and corporations as a means of preserving value. Fulop is running to replace incumbent Governor Phil Murph, who is ineligible for re-election, and Fulop has said that, if elected, he would consider campaigning to get New Jersey to hold Bitcoin and headquarter cryptocurrency firms in the state, with several large cryptocurrency firms now reportedly located in Jersey City, a mere four-minute underground ride from Wall Street.