Eric Adams said he plans to “take my first three paychecks” in bitcoin once he starts his new job as New York City’s mayor in January.
New York’s next mayor Eric Adams wants to make his city the crypto hub. As part of his plan, he will take his salary in BTC after he assumes office in January.
“In New York, we always go big, so I’m going to take my first three paychecks in Bitcoin when I become mayor,” Adams tweeted on Thursday. It is, however, unclear if the mayor-elect can accept payment in Bitcoin.
Whether it’s one paycheck or three, what Adams and Suarez are personally betting on a highly volatile cryptocurrency is more than many business leaders in the crypto space are doing.
Unlike his Democratic primary opponent, Andrew Yang, Adams, a former police officer who was elected Brooklyn Borough in 2014, did not make cryptocurrency a part of his campaign for mayor.
Start-ups, venture firms, and crypto exchanges have been relocating to the city – or at least opening additional offices. Suarez also announced in February that Miami plans to accept tax payments in bitcoin and let employees draw their salary in the cryptocurrency.
Bitcoin 2021, billed as the biggest bitcoin event in history, attracted legions of faithful fans to Miami earlier this year. Countless other crypto-related conferences have chosen Miami specifically because the city has rolled out the red carpet for this industry.
As with any political promises or stunts, actions speak much, much louder than words. Adams actually getting a few paychecks in Bitcoin (or getting paid in dollars and immediately converting them into crypto, which would be much easier) won’t really move the needle on the industry. But the fact that he and another prominent mayor are talking about doing it shows a big shift in how (at least some) leaders are thinking about the future of money.
