NYC Mayor-Elect Says He Will Take Three Months Pay in Bitcoin

New South African Legislation Looks to Ban Non-CBDC Crypto From Pension Funds

New York City mayor-elect Eric Adams said he would take the first three months of his pay as mayor in Bitcoin.

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

The tweet was made as a playful response to Miami Mayor Francis Suarez announcing he would take a month’s pay in Bitcoin. Suarez himself replied congratulating Adams on his electoral victory, while also looking “forward to the friendly competition in making our respective cities a crypto capital!”

Earlier this week, Suarez tweeted that he would accept his next paycheck entirely in bitcoin. His tweet was a response to Morgan Creek co-founder Anthony Pompliano asking which United States politician would be the first to accept their salary in bitcoin. Pompliano also responded to the tweet, asking City of Miami CIO/Director of Innovation and Technology Mike Sarasti to help set the process up. 

Adams’ crypto plans for NYC

Adams was earlier asked during a recent interview what he would do to make the city more crypto friendly. First, Adams said he would look into “what’s preventing the growth of Bitcoin and cryptocurrency” in New York, as part of a larger push to become a “business-friendly” city.

Next, the Mayor-elect mentioned his soon-to-be counterpart in Miami, Mayor Francis Suarez. Adams said he had met with Suarez, and that they “want to have a friendly competition,” highlighting Suarez’s efforts with MiamiCoin, adding that he wants to do something similar.

Finally, Adams emphasized building “a pipeline of young people that can fill these jobs and understand the new technology.” He added that these jobs should contribute to great equity in the labor market, saying “we can’t have a one-sided city where [only] certain groups and areas are doing well.”

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