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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Down 78.5% from last weekend's peak, LSK suspected to be market-made by GSR Markets
The world's top sovereign wealth fund achieves an annual return of 14.2% while warning that high returns in U.S. stocks are unlikely to be sustained.
New Zealand's sovereign wealth fund achieved a 14.2% annual return for the 2026 fiscal year, ranking first among global peer funds. However, the management team promptly issued a warning that recent returns from the U.S. stock market are nearly twice the 20-year annualized average, and that mean reversion pressure should not be overlooked. The fund has lowered its long-term expected annual return from 7.8% to 7.2% and reduced its active risk exposure.
Coca-Cola (KO.US) plans to invest 10 billions USD to strengthen U.S. facilities and logistics infrastructure
Coca-Cola announced on Tuesday that it plans to invest $10 billions in U.S. infrastructure between 2026 and 2030.
The yen broke below the 156 mark overnight as the Federal Reserve’s hawkish rate hikes pushed the Bank of Japan to a “high-pressure moment.”
After the Federal Reserve raised interest rates, the Japanese yen fell overnight to 156.42. The market is betting that the Bank of Japan will raise rates by 25 basis points on Friday. If the stance is dovish, the yen could fall further to 158 or even 160.
Crypto prices
More
