Metro

Eric Adams to take first paychecks as NYC mayor in bitcoin

New York City Mayor-elect Eric Adams announced Thursday that he will take his first three paychecks in bitcoin — one-upping Miami’s crypto-friendly mayor, who said earlier this week that he would take his next paycheck in the digital currency.

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

“NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!”

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

It’s not the first time Adams has traded jabs with Suarez, who has staked much of his political reputation on remaking Miami into the capital of the burgeoning cryptocurrency sector.

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

Weeks later, Adams pledged to make New York City “the center of Bitcoins.”

Since cruising to victory in the Gotham mayoral race earlier this week, Adams has increasingly talked about embracing bitcoin and the broader cryptocurrency industry.

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

“He has a MiamiCoin that is doing very well — we’re going to look in the direction to carry that out,” Adams said Wednesday in an interview with Bloomberg Radio, referring to the so-called CityCoin cryptocurrency Suarez set up.

Adams added that he’s going to “look at what’s preventing the growth of bitcoin and cryptocurrency in our city.”

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

Bitcoin
Miami Mayor Francis Suarez also said he’ll take his next paycheck in bitcoin.
U. Baumgarten via Getty Images

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

He added that in Brooklyn, where he’s served as borough president, there’s been a 356 percent increase in tech startups over the past 10 years.

Adams also emphasized that he’s been ramping up his meetings with tech startups and entrepreneurs both locally and internationally.

In a separate interview later Wednesday on Bloomberg Television, Adams pledged more generally to make 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 are looking for ways to penalize or fine them. We’re changing that atmosphere altogether.”

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

The price of bitcoin — the largest cryptocurrency in the world — has soared this year as cryptocurrencies gained popularity and were embraced by major US companies and investors.

Eric Adams has pledged to make NYC more friendly for businesses.
Adams has pledged to make NYC more friendly for businesses.
Paul Martinka

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




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