NYC mayor-elect Eric Adams says he will take his first three paychecks in bitcoin


New York City Mayor-Elect Eric Adams said today that he plans to take his first three mayoral paychecks in Bitcoin. 

Adams announced his intention in a tweeted reply to Miami Mayor Francis Suarez. Suarez has taken significant steps to incorporate crypto into his administration, including implementing the use of the CityCoins protocol in Miami. He tweeted that he planned to take his next paycheck in "100% bitcoin."

Adams, not to be outdone, replied he would take his first three paychecks in the cryptocurrency.

"In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!" he said in a tweet.

In his post-election interview with Bloomberg, Adams committed to making the city "crypto-friendly." This could mean reevaluating high barriers to entry and regulatory attitudes for businesses in the state. He said he's examining "what's preventing the growth of Bitcoin and cryptocurrency" in New York.

Adams also told Bloomberg he intended to have a sense "friendly competition" between himself and the Miami mayor when it comes to crypto policy. He also teased that his staff has been looking into implementing the CityCoins protocol in New York. Suarez is bullish on the project's future in Miami, estimating it could bring in $60 million for the city over a year's time.

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May 5, 2022, 3:17PM UTC