Eric Adams, the new mayor of New York City, has once again publicly shown his support for Bitcoin. The mayor has long been a supporter of crypto, saying he wants to make New York the bitcoin capital of the country. And his recent show of support has only repeated the mayor’s plan for the city.
Mayor Adams responded to a tweet from Francis Suarez, the mayor of Miami famous for making the city a hub for cryptocurrency. Apparently, New York is in a race to make the city a cryptocurrency hub for innovation in Miami.
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Accept Bitcoin Paychecks
Investors and entrepreneur Anthony Pompliano posted on Twitter asking who would be the first politician to accept salaries in bitcoin. Mayor Suarez used this opportunity to show his support for crypto by saying that he was accepting his next salary in BTC. This is unprecedented as no US politician has openly admitted that he will receive payments in Bitcoin.
I will collect my next 100% salary in bitcoin…issue fixed! Tweet embed Can you help https://t.co/v4YdPZ0tYc
Mayor Francis Suarez November 2, 2021
Mayor Adams responded to this with an even more impressive revelation. The mayor who was voted into office on November 3 revealed that he plans to receive his first three Bitcoin salaries. The move was taken in an effort to take Miami’s positive mayor to crypto and demonstrate New York’s commitment to making it the crypto hub of the nation.
“In New York, we always make big money, so I will get my first three Bitcoin salaries when I become mayor. New York City will be the center of the crypto industry and other fast-growing innovative industries! Just wait!” Eric Adams, Mayor-elect, New York
BTC trading above $61,000 | Source: BTCUSD on TradingView.com
Mayor Eric Adams is the second black person to be elected mayor of New York. His campaign revolved around making New York City a hub for innovation, which resonated with the city’s younger residents. His stance on cryptocurrency also drew the community to him. Now that he’s won the race for mayor, Adams is focused on making the 60’s a tech hub.
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Taking bitcoin paychecks is unheard of but it is by no means a new concept. Some payroll companies have also started offering options for paying employees in crypto. However, Mayor Adams and Suarez will not receive their salaries directly in cryptocurrency as the government pays them.
They will get paid in dollars, which will then be converted into BTC. In the past, Suarez has explored the idea of paying salaries with bitcoin. The mayor-elect of New York, Eric Adams, hasn’t said anything to that effect yet, but the future of bitcoin looks bright in New York where Adams runs the show.
Featured image from Bloomberg, chart from TradingView.com