NYC Mayor-Elect Eric Adams Wants His First 3 Paychecks in Bitcoin

NYC Mayor-Elect Eric Adams Wants His First 3 Paychecks in Bitcoin

7 months ago

The future NYC mayor has one-upped the Miami mayor, who first tweeted he would receive his next paycheck in BTC.

NYC Mayor-Elect Eric Adams Wants His First 3 Paychecks in Bitcoin

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A few days ago, Miami’s newly re-elected mayor Francis Suarez made history as the first politician to ask to receive 100 percent of his next paycheck in Bitcoin. It appears New York City’s incoming leader has taken a cue from his colleague (one-upping him at the same time) as he is determined to receive his first three paychecks in Bitcoin.

On Tuesday, Democrat Eric Adams won the election to become the next mayor of New York City. The mayor-elect has already hit the ground running on his campaign promises about transforming the city into a “center of Bitcoins.”

During a campaign watch party back in the summer, Adams had said:

We’re going to bring business here. We’re going to become the center of life science, the center of cybersecurity, the center of self-driving cars, drones, the center of Bitcoins.”
As a first step, the new mayor wants his first three paychecks in the flagship cryptocurrency. He made the revelation while responding to a tweet from Mayor Francis Suarez, who had earlier said that he would receive the entire sum of his next paycheck in Bitcoin.
Suarez had been replying to a tweeted challenge from crypto podcaster Anthony Pompliano about which U.S. politician would be the first to receive his or her paycheck in Bitcoin.
Adams appears to have raised the bar a little higher with his new proposition. He tweeted on Thursday:

“In New York, we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!”

Suarez, in return, congratulated his colleague, subtly hinting at a friendly competition to make their respective cities into crypto capitals.

It is still unclear whether New York can directly pay its new mayor in Bitcoin. As seen in the past, when pro athletes received their wages in cryptocurrencies — as in the case of Russell Okung and most likely Tom Brady — it was typically in partnership with crypto service providers like Strike.

In reality, the athletes actually receive their salaries in U.S. dollars. The dollars are then converted into an equivalent amount of Bitcoin using a service like Strike — which will be is the case for Mayor Suarez.

Miami’s chief innovation officer Mike Sarasti already sent the Strike onboarding to Suarez, further revealing that he recently tested the functionality.

“My experience receiving a portion of my pay last week went flawlessly.”

Besides just receiving some of his salary in Bitcoin, Adams already has some pro-crypto moves up his sleeves. On Wednesday, he told Bloomberg that his administration would work towards launching a CityCoin cryptocurrency for New York City. The move trails Miami’s branded MiamiCoin, which has reportedly generated nearly $20 million in revenue for the state since its launch in August.
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