Bitcoin pressured while London mayoral candidate promises 100 pounds to every Londoner if he wins

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Last Updated on 16 April 2024 by CryptoTips.eu

Bitcoin followed the US stock markets and dropped lower on Monday evening. It comes after the largest digital currency showed positivity during the day on rumors of an impending approval of a Bitcoin ETF in Hong Kong.

At the time of writing Tuesday morning, Bitcoin is trading for $62,800.

There is growing interest for all things crypto in 2024, especially among younger generations. This is now visible in important political elections as well.

The mayor of New York Eric Adams is a big Bitcoin fan, the new president of Argentina Javier Milei is one, the third candidate in the race for the US presidential elections Robert F Kennedy Jr promised crypto for everyone, and now one of the most notable candidates for the mayoral race in London also announced a crypto promise.

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‘London’ crypto coin

Brian Rose is a former banker who is running in next month’s London mayoral elections. To be honest, he doesn’t have much of a chance of winning though.

Given the unpopularity of the Conservatives (who have ruled the United Kingdom for the past 13 years already), it is widely expected that current Labor mayor Sadiq Khan will be elected for a historic third term.

In the latest electoral barometer, Khan is well ahead of Susan Hall, the candidate for the Conservatives. All other candidates get less than 10% of the voting intentions. Among them also ‘Count Binface’, a man dressed as a knight with a garbage can on his head. Let’s call it typically British.

100 pounds

So it is up to the other candidates to launch an extreme proposal in order to get into the news and therefore attract interest. Rose did that last week.

He promises to tax the profits of all major companies in London by an additional 1%. As London is still the financial capital of Europe, that will generate quite some revenue.

With that money he wants to pay out 100 pounds in a new cryptocurrency called ‘London’ to every Londoner.

The coin could then be used to pay for public transport in the city or, for example, to order an Uber.

According to Rose, this way older generations would also learn something about finance and crypto. Rose’s proposal made it to most British news websites last week.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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