New York Mayor-Elect Will Take Bitcoin For First Three Paychecks


Eric Adams, the brand new mayor of town of New York, has as soon as once more publicly proven help for bitcoin. The mayor has lengthy been in help of the cryptocurrency, saying he needed to make New York the bitcoin capital of the nation. His most up-to-date present of help has solely reiterated the mayor’s plan for town.

Mayor Adams responded to a tweet from Francis Suarez, the mayor of Miami well-known for making town a crypto hub. Apparently, New York is in a race to make town the cryptocurrency middle for innovation over town of Miami.

Related Reading | Ethereum Miner Revenue Outpaces Bitcoin In 2021

Accepting Paychecks In Bitcoin

Investors and Entrepreneur Anthony Pompliano had posted on Twitter asking who the primary politician could be to simply accept their paychecks in bitcoin. Mayor Suarez took benefit of this chance to indicate his help for cryptocurrencies by saying he was accepting his subsequent paycheck in BTC. This is unprecedented as no U.S. politician has overtly admitted they might take funds in bitcoin.

Mayor Adams responded to this with an much more spectacular revelation. The mayor who had been voted into workplace on November third revealed that he deliberate to take his first three paychecks in bitcoin. This transfer was made in a bid to one-up the crypto-positive mayor of Miami and present New York’s dedication to creating it the crypto hub of the nation.

“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!” – Eric Adams, Mayor-Elect, New York

BTC buying and selling above $61,000 | Source: BTCUSD on TradingView.com

Making History

Mayor Eric Adams is barely the second black particular person to be elected to the mayoral workplace of New York. His marketing campaign revolved round making New York metropolis an innovation hub, which resonated enormously with the youthful residents of town. His stance on crypto additionally drew the group to him. Now that he has received the race for mayor, Adams is targeted on making the sixty a tech hub.

Related Reading | FOMO Beware: Spot Bitcoin Buying Volume Remains Low, Despite New ATH

Taking paychecks in bitcoin is unparalleled however not a brand new idea in any means. Some payroll corporations have additionally begun to supply choices to pay staff in crypto. However, Mayors Adams and Suarez is not going to be receiving their paychecks immediately in crypto as they’re paid by the federal government.

They will obtain their paychecks in {dollars}, which might then be transformed into BTC. Suarez has prior to now explored the thought of paying salaries in bitcoin. Mayor-elect of New York, Eric Adams, has to date not stated something to that impact, however the way forward for bitcoin seems shiny in New York with Adams working the present.

Featured picture from Bloomberg, chart from TradingView.com



You might also like