New York City Mayor wants his first three paychecks to be paid in Bitcoin

What just happened? New York mayor-elect Eric Adams wants to make the city the “center of the cryptocurrency industry.” To show he’s serious about these plans, Adams said he wanted his first three paychecks to be paid in Bitcoin.

Adams announced his love of crypto on Twitter in response to Miami Mayor Francis Suarez, saying he would take his next paycheck in BTC. “In New York, we’re always going big, so I’m going to take my first THREE bitcoin paychecks when I’m mayor,” Adams replied. “NYC is going to be the center of the cryptocurrency industry and other fast growing innovative industries! Wait ! “

In New York, we’re always going big, so I’ll be taking my first THREE Bitcoin paychecks when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast growing innovative industries! Hold on!

– Eric Adams (@ericadamsfornyc) November 4, 2021

The interaction resembles a crypto-measure of love contest between the two men. Suarez also said he aims to make Miami a hub for cryptocurrency innovation, and in August he helped establish the MiamiCoin Project, which allows people to invest in cryptocurrencies. in the city – he’s already raised $ 7 million for Miami.

Suarez announced that Miami plans to accept bitcoin tax payments and let employees take their wages out of the cryptocurrency. The city also hosted the Bitcoin 2021 event earlier this year and has attracted several other major crypto conferences.

Adams said in an interview with Bloomberg Radio that this was “friendly competition” with Suarez. “He’s got a MiamiCoin that’s doing very well – we’re going to look in the direction to make it happen,” said the incoming mayor, who added that he plans to investigate what is blocking the growth of Bitcoin and crypto – currency in New York.

It remains to be seen whether Adams really gets his first three Bitcoin paychecks, given the potential payroll and tax issues this could raise. And even if it does, this one-off act is unlikely to make New York City a much better place to invest in cryptocurrency than Miami.

h/t : CNBC

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