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Q&A

IBO's stance on the mayor's bitcoin bond proposal

5:39:27

·

23 sec

Council Member Justin Brannan inquires about the Independent Budget Office's (IBO) opinion on the mayor's bitcoin bond idea and whether New York City should invest in cryptocurrency.

  • IBO representatives reveal they were not consulted in advance about the bitcoin bond proposal.
  • When asked if the city should invest in crypto or bitcoin, IBO defers to the controller's advice on the matter.
  • The brief exchange highlights the novelty and potential controversy surrounding the proposal.
Justin Brannan
5:39:27
What do you guys think of the mayor's bit bond idea?
Louisa Chafee
5:39:30
Oh, we're so glad you asked.
5:39:33
We Surprisingly, IBO was not consulted in advance.
5:39:36
Do
Justin Brannan
5:39:38
you think the city of New York should have anything to do with investing in crypto or bitcoin?
Louisa Chafee
5:39:43
So we would defer to the controller's advice in that circumstance.
Justin Brannan
5:39:46
Okay.
5:39:48
My colleagues have any questions?
5:39:49
Councilmember Brewer?
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