Eric Adams to receive his first paychecks as mayor of New York in bitcoin

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New York City Mayor-elect Eric Adams announced Thursday that he would take his first three bitcoin paychecks – the crypto-friend Miami mayor who said earlier this week he would take his next paycheck in digital currency.

“In New York, we’re always going big, so I’m going to take my first THREE Bitcoin paychecks when I’m mayor” Adams tweeted Thursday, stepping up efforts to court crypto entrepreneurs.

“NYC is going to be the center of the cryptocurrency industry and other fast growing innovative industries! Hold on!”

The announcements from Adams and Miami Mayor Francis Suarez came in response to crypto investor and Morgan Creek Digital Assets co-founder Anthony Pompliano, who tweeted on Tuesday, “Who is going to be the first American politician to accept his salary in bitcoin?”

This isn’t the first time Adams has traded blows with Suarez, who has put much of his political reputation into making Miami the capital of the burgeoning cryptocurrency industry.

In June, Adams hit back at Suarez after the mayor of Miami said residents of the Big Apple would be better off in the Sunshine State because of its low taxes and house prices.

Weeks later, Adams pledged to make New York “the hub of Bitcoin.”

Since winning the Gotham mayoral race earlier this week, Adams has increasingly spoken of embracing bitcoin and the broader cryptocurrency industry.

On Wednesday, he pledged to turn the Big Apple into a crypto-friendly city and challenged Suarez to a “friendly competition.”

“He’s got a MiamiCoin that’s doing very well – we’re going to look in the direction to make it happen,” Adams said Wednesday in an interview with Bloomberg Radio, referring to the so-called CityCoin cryptocurrency set up by Suarez.

Adams added that he would “examine what is preventing the growth of bitcoin and cryptocurrency in our city.”

The Democrat also highlighted the need for New York City to prepare a local workforce for jobs in the expanding industry.

Miami Mayor Francis Suarez has also said he will take his next bitcoin paycheck.
U. Baumgarten via Getty Images

“We cannot have a one-sided city where certain groups and areas are doing well,” he told Bloomberg.

He added that in Brooklyn, where he served as Borough President, there has been a 356% increase in the number of tech startups over the past 10 years.

Adams also stressed that he has stepped up his meetings with tech startups and entrepreneurs both locally and internationally.

In a separate interview later Wednesday on Bloomberg Television, Adams pledged more broadly to making New York City more business-friendly.

“We’re too bureaucratic, too expensive, and too difficult to do business,” Adams said. “Our agencies – they go into businesses and look for ways to penalize or tax them. We are completely changing that atmosphere.

“This is the Empire State, and we are going to build empires.”

The price of bitcoin – the world’s largest cryptocurrency – has skyrocketed this year as cryptocurrencies gained popularity and were adopted by large U.S. companies and investors.

Eric Adams is committed to making NYC more business friendly.
Adams is committed to making NYC more business friendly.
Paul Martinka

Bitcoin was last seen trading hands at over $ 61,300, down 2% from 24 hours ago, but still up over 27% from a month ago.



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