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NYC Mayor-elect Eric Adams will get paid in Bitcoin

·1 min read

New York City major-elect Eric Adams has revealed he will get paid in Bitcoin (BTC) for his first three mayoral paychecks when he gets formally inaugurated on January 1 2022.

Adams said on Twitter that he believes “NYC is going to be the centre of the cryptocurrency industry and other fast-growing, innovative industries” during his tenure and then told his followers to “just wait” to see what he has planned.

 

His decision to get paid in Bitcoin follows Miami mayor Francis Suarez’ to receive 100% of his paycheck in Bitcoin after being posed the question by serial entrepreneur Anthony Pompliano on Twitter.

Adams has since vowed to match Suarez’ ambitions with cryptocurrencies within Miami – which was the first to set up a so-called ‘CityCoin’ token named MiamiCoin.

“He has a MiamiCoin that is doing very well. We’re going to look in the direction to carry that out,” said Adams in a recent interview with Bloomberg.

Adams then vowed to “look at what’s preventing the growth of Bitcoin and cryptocurrency” in New York City.

CityCoins were also the focus of Ethereum co-founder Vitalik Buterin’s most recent blog post, which focused on the development of city tokens, the use of blockchains and transforming how governance is carried out using DAOs.