NY Mayor-Elect Eric Adams Says He Wants His First Three Paychecks In Bitcoin

KEYPOINTS

  • Mayor-elect Eric Adams of New York City intends to get his first three salaries in bitcoin.
  • In a tweet on Thursday, Adams stated, “NYC is going to be the center of the cryptocurrency industry.”
  • Adams has been arguing with Miami Mayor Francis Suarez since entering office about who can transform their respective fiefdoms into the country’s crypto capitals.

Mayor-elect Eric Adams of New York City intends to collect his first three paychecks in bitcoin, the politician’s latest endeavour to compete with Miami as one of the country’s top crypto hotspots.

In a tweet on Thursday, Adams stated, “NYC is going to be the center of the cryptocurrency industry.”

Since taking office, the mayor of New York has been arguing with Suarez about who can turn their own fiefdoms into the country’s crypto capitals.

Mayor Suarez’s forward-thinking crypto initiatives are already attracting great talent. Startups, venture capital firms, and cryptocurrency exchanges have started relocating to the city — or at the very least expanding their operations.

Suarez also announced in February that Miami will accept bitcoin as a form of payment for taxes and will allow employees to get their wages in bitcoin.

Adams looks to be eager to refocus some of the crypto spotlight. In an interview with Bloomberg Radio on Wednesday, the New York mayor-elect said he intended to engage in a “friendly competition” with Suarez.

“He has a MiamiCoin that is doing very well – we’re going to look in the direction to carry that out.”—Adams told Bloomberg Radio.

In this interview, Adams also stated that he intended to investigate what was hindering the rise of bitcoin and cryptocurrency in New York.

TWITTER REACTIONS

Every heated debate or announcements whether it’s political or technical, Twitter reacts accordingly.

CEO of Coinbase Brian Armstrong, reacted to the news and wrote, “So Cool”.

In another Tweet Harvard’s Professor Jason Furman replied to the news writing, “Not only is this a bad economic strategy for NYC and a bad investment decision, it also seems like a conflict of interest.

Like a Mayor announcing “I’m buying a lot of Amazon stock and then going to put in places policies to benefit Amazon.”

Bitcoin’s price is currently $60,871, and its market share is 42.56 percent, down 0.77 percent from the previous day.

For more interesting and informative Twitter talks and news, stay connected.

IMAGE CREDITS: Shutterstock

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