New York Mayor-elect Adams says he will take his first three salaries in bitcoin By Reuters – News Couple

New York Mayor-elect Adams says he will take his first three salaries in bitcoin By Reuters

© Reuters. Democratic candidate for mayor of New York City Eric Adams reacts after being declared the winner of his electoral night party in Brooklyn, New York, US November 2, 2021. REUTERS/Andrew Kelly

(Reuters) – New York Mayor-elect Eric Adams said Thursday he will take his first three bitcoin salaries and indicated his intention to make his city “the center of the cryptocurrency industry” after taking office in January.

“In New York we always make big money, so I will get my first three bitcoins when I become mayor,” Adams wrote in a Twitter post (NYSE: NYSE). “New York City will be the epicenter of the cryptocurrency industry and other fast-growing innovative industries! Just wait!”

The mayor-elect’s tweet came in response to Miami Mayor Francis Suarez, who wrote in a private message on Twitter that he would receive his first salary in Bitcoin, the world’s largest cryptocurrency. Suarez, who was re-elected on Tuesday, was a champion in the crypto space, setting his sights on building Miami into a hub for crypto innovation.

Adams, a Democrat, will become the second black mayor of the most populous city in the United States in January after easily defeating Republican Curtis Sliwa, founder of the Guardian Angels for Civil Safety, in Tuesday’s election.

“It shows you that bitcoin is attracting a wide range of interest and you can now include the mayor of New York,” said Edward Moya, chief market analyst at forex broker Oandam, of Adams’ announcement.

“But in the end, Eric Adams is not a very influential person to persuade people on the fence to join the crypto world,” he added.

This is not the first time that Adams has raised the possibility of cryptocurrency competition between the two cities. After winning the Democratic nomination for mayor in June, he delivered a victory speech in which he pledged that the city would become “the center of bitcoin” and “the center of all technology.”

“Miami, I ran,” he said.

Working with non-profit CityCoins, the city of Florida unveiled a cryptocurrency called MiamiCoin in August. CityCoins send 30% of any MiamiCoin generated or “mined” on a consumer computer to the city. As of September, the program had made $7.1 million for Miami, the Washington Post reported.

Efforts to turn New York into a crypto hub may draw scrutiny from New York Attorney General Letitia James, who recently launched a crackdown on unregistered crypto firms. James announced last week that she is running for governor of New York.

, which is characterized by a high degree of volatility, was trading around $ 61,260 by mid-afternoon on Thursday, down 3% on the day.

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