The newly-elected mayor of New York City, Eric Adams, has announced that he will take his first three monthly salaries in bitcoin.
The announcement came after Miami’s mayor and big crypto champion, Francis Suarez, announced he was taking his next paycheck in ‘100% bitcoin’.
In a series of tweets, Mr Adams also pledged to make New York the centre of ‘the cryptocurrency industry and other fast-growing, innovative industries. In an earlier Bloomberg interview, Adams said he was committed to making New York ‘crypto-friendly’ and promised to investigate what was behind the slow growth of bitcoin and cryptocurrencies in the city.
The founder and CEO of Dynasty Global Investments AG, Eduardo Carvalho, commented:
"New York is effectively the world’s financial capital, so a stronger commitment by its city leaders towards cryptocurrencies can be a game changer, in terms of a more widespread use of the currency as well as policies to make it easier for Blockchain and crypto businesses to be set up and grow there."