Elected New York Mayor Eric Adams Asks For His First Three Paychecks In Bitcoin
New York mayor-elect Eric Adams said on Thursday he would take his first three paychecks in bitcoin and signaled his intention to make his city “the center of the cryptocurrency industry” after taking office in January.
“We’re always growing up in New York City, so I’m going to take my first three paychecks in bitcoin when I become mayor,” Adams wrote in a Twitter post.
“NYC is going to be the center of the cryptocurrency industry and other rapidly growing, innovative industries! Just wait!” The mayor-elect’s tweet came in response to Miami Mayor Francis Suarez, who wrote in a Twitter message of his own that he would take his first paycheck in bitcoin, the world’s largest cryptocurrency.
Mr Suarez, who won re-election on Tuesday, has been a cryptocurrency champion, setting his sights on making Miami at the center of cryptocurrency innovation.
Mr Adams, a Democrat, will become the second black mayor of the United States’ most populous city in January after easily defeating Republican Curtis Sliva, founder of the Guardian Angels Civil Defense Patrol, in Tuesday’s election.
Edward Moya, a senior market analyst at FX broker Ondem, said of Mr. Adams’ announcement, “It shows you that bitcoin is attracting a wide range of interest and you can now include the mayor of New York.”
“But in the end, Eric Adams is not a very influential person to seduce people on the fence to join the cryptoverse,” he said. This was not the first time that Adams raised the prospect of a cryptocurrency competition between the two cities.
After winning the Democratic nomination for mayor in June, he gave a victory speech in which he vowed that the city would become “the center of bitcoin” and “the center of all technology.”
“Miami, you had your run,” he said. Working with the non-profit CityCoins, the Florida city unveiled a cryptocurrency called MiamiCoin in August.
CityCoins sends 30 percent of any MiamiCoin created or “mined” on a consumer’s computer to the city.
As of September, the program has generated $7.1 million for Miami, the Washington Post reports. Efforts to turn New York into a crypto hub may receive scrutiny from New York Attorney General Letitia James, who recently launched a crackdown on unregistered cryptocurrency companies.
Last week Ms James announced her candidacy for governor of New York.
Bitcoin, which is highly volatile, was trading around $61,260 as of mid-Thursday, down 3 percent that day.
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