NYC mayor-elect Eric Adams wants first 3 paychecks in bitcoin

Miami mayor on JPMorgan’s Dimon Bitcoin knock: It’s not worthless

Miami Mayor Francis Suarez argues bitcoin has ‘gone up significantly’ amid rise in popularity.

New York City Mayor-elect Eric Adams pledged Thursday that he would accept his first three paychecks in bitcoin when he formally takes office next year.

Adams made the claim in response to a tweet from Miami Mayor Francis Suarez, who said earlier this week that he would take his next check "100% in bitcoin." The incoming New York City mayor suggested his administration will take a friendly stance toward cryptocurrencies.

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

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The value of bitcoin and other leading cryptocurrencies has surged in recent months. As of Thursday afternoon, a single bitcoin was worth more than $61,000. The overall bitcoin marketplace is valued at approximately $1.2 trillion.

New York City Democratic Mayoral nominee Eric Adams attends the IPO of IHS Holding Ltd, at the New York Stock Exchange (NYSE) in New York City, Oct. 14, 2021. REUTERS/Brendan McDermid (REUTERS/Brendan McDermid / Reuters Photos)

Bitcoin was trading more than 1.1% higher Tuesday morning. (istock / iStock)

Adams, a Democratic and the current Brooklyn borough president, was elected the city’s next mayor earlier this week. He soundly defeated Republican challenger Curtis Sliwa, earning more than 72% of the vote in the heavily Democratic city.

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As mayor, Adams will be tasked with leading New York City’s ongoing economic recovery from the COVID-19 pandemic. The mayor-elect has pledged to implement business-friendly policies.

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