New York Mayor-Elect Will Take Bitcoin For First Three Paychecks

Picture of New York Mayor Eric Adams

Eric Adams, the brand new mayor of the town of New York, has as soon as once more publicly proven assist for bitcoin. The mayor has lengthy been in assist of the cryptocurrency, saying he wished to make New York the bitcoin capital of the nation. His most up-to-date present of assist has solely reiterated the mayor’s plan for the town.

Mayor Adams responded to a tweet from Francis Suarez, the mayor of Miami well-known for making the town a crypto hub. Apparently, New York is in a race to make the town the cryptocurrency heart for innovation over the town of Miami.

Related Reading | Ethereum Miner Revenue Outpaces Bitcoin In 2021

Accepting Paychecks In Bitcoin

Investors and Entrepreneur Anthony Pompliano had posted on Twitter asking who the primary politician could be to just accept their paychecks in bitcoin. Mayor Suarez took benefit of this chance to indicate his assist for cryptocurrencies by saying he was accepting his subsequent paycheck in BTC. This is unprecedented as no U.S. politician has brazenly admitted they might take funds in bitcoin.

Mayor Adams responded to this with an much more spectacular revelation. The mayor who had been voted into workplace on November third revealed that he deliberate to take his first three paychecks in bitcoin. This transfer was made in a bid to one-up the crypto-positive mayor of Miami and present New York’s dedication to creating it the crypto hub of the nation.

“In New York, we at all times go massive, so I’m going to take my first THREE paychecks in Bitcoin after I turn out to be mayor. NYC goes to be the middle of the cryptocurrency trade and different fast-growing, modern industries! Just wait!” – Eric Adams, Mayor-Elect, New York

BTC buying and selling above $61,000 | Source: BTCUSD on

Making History

Mayor Eric Adams is barely the second black particular person to be elected to the mayoral workplace of New York. His marketing campaign revolved round making New York metropolis an innovation hub, which resonated enormously with the youthful residents of the town. His stance on crypto additionally drew the neighborhood to him. Now that he has received the race for mayor, Adams is targeted on making the sixty a tech hub.

Related Reading | FOMO Beware: Spot Bitcoin Buying Volume Remains Low, Despite New ATH

Taking paychecks in bitcoin is exceptional however not a brand new idea in any method. Some payroll firms have additionally begun to supply choices to pay workers in crypto. However, Mayors Adams and Suarez is not going to be receiving their paychecks immediately in crypto as they’re paid by the federal government.

They will obtain their paychecks in {dollars}, which might then be transformed into BTC. Suarez has up to now explored the thought of paying salaries in bitcoin. Mayor-elect of New York, Eric Adams, has up to now not mentioned something to that impact, however the way forward for bitcoin seems to be vibrant in New York with Adams operating the present.

Featured picture from Bloomberg, chart from

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.