Jersey City Mayor Steven Fulop is the latest politician to make crypto history when he announced yesterday that the city government would invest in bitcoin. According to a social media post, the mayor, who is currently running for state governor, said the municipal pension plan would put an undisclosed sum of money in bitcoin exchange-traded funds. 

In an interview with The Block, Mayor Fulop — who was formerly a trader for Citi and Sanford Bernstein — noted that the investment is being made as a hedge against inflation. 

“It's been very, very difficult over the last couple of years, and it seems like it's getting worse, not better,” Mayor Fullop said in an interview with The Block, discussing the increasing cost of living in the state and country. He added that it’s an …