New York Mayor Eric Adams said on Thursday that he expects to receive his first three mayoral salaries in the form of Bitcoin. The digital currency is therefore increasingly popular, and the mayor is doing it to demonstrate his commitment to making New York City the hub of digital finance.
Adams, fresh from a landslide victory in the general election for mayor of the city, made the promise after Miami Mayor Francis Suarez expressed his intention to take his next salary in Bitcoin. “We always do great in New York, so I'll take my first THREE salaries in Bitcoin when I become mayor,” Adams said on Twitter, responding directly to Suarez, a Republican. “NYC will be the center of the cryptocurrency industry and other innovative and fast-growing industries! Wait up!".
It was unclear whether it would be possible for Adams to access his starting salaries via Bitcoin after he took office on January 1. Michael Greenberg, a spokesman for the city's Office of Management and Budget, said he was unsure of the feasibility of the proposal and referred further comments to another spokesperson, who did not respond immediately.
Miami seems to be further ahead, however
But the gesture of Adams, the Brooklyn borough president, seemed symbolic: less about the nuts and bolts of changing the city's payroll options, and more about signaling that New York is open to business for tech innovators.
Adams promised that the city "will no longer be against business" under his administration, seeking a change of tone from Mayor Bill de Blasio's often icy relationship with financial leaders. Investors have flocked to Bitcoin, the world's first cryptocurrency, over the past year. Its stock value has risen by over 400%. But critics have questioned the little-known currency, noting long wait times for Bitcoin transactions and questioning its true value.
It has also often been associated with illegal activities. In Miami, Suarez boosted his profile - and his city - with his pivot towards cryptocurrencies. This year, the city hosted the largest cryptocurrency conference in the world and has made over $ 7 million since the launch of a cryptocurrency called MiamiCoin, the Washington Post reported in September.
Adams already has many supporters
Evan Thies, a spokesperson for Adams, said the mayor-elect's plan is to convert his check and then try to make Bitcoin an option for other city employees.
Suarez seemed to respect the former police captain's competitiveness. "Touché," Suarez tweeted in response to Adams on Thursday, "congratulations on the elections and I can't wait for the friendly competition to begin to make our respective cities a crypto capital!"
And what do you think of this political turning point? It will help the quotation of Bitcoin to rise higher and higher? Let us know in the comments below.
