NYC mayor vows to take salary in Bitcoin

The new mayor of New York City, Eric Adams, has vowed to receive his first three checks in Bitcoin (BTC).

More legislators and elected officials are openly stating their support for cryptocurrencies and blockchain adoption.

Adams has been elected on a platform that promised innovation across the board, and one aspect of that is the introduction of blockchain and BTC in administration and across businesses.

“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 in an effusive tweet shortly after winning.

He dedicated a substantial proportion of his post-election speech to crypto, vowing to turn New York City into a center of the crypto industry.

He immediately caught the eye of Miami mayor Francis Suarez who has been moving the city towards mass adoption of BTC and even floated the idea of paying city workers with crypto.

“I will definitely take my next paycheck in Bitcoin”, Suarez responded to the tweet.

While New York is associated with innovation, it not always easy to bring all stakeholders on board. For example, businesses have opposed an idea to convert old power plants into crypto mining hubs, citing environmental concerns.

Adams has ideas of his own but a quick reality check may be necessary. There is no confirmation that the City of New York has the capacity to pay its public servants, be that the mayor or anyone else, in BTC.

It would be possible for such payments to be considered unacceptable because of their increased level of anonymity.

However, many people out there have been paid in BTC. NFL players like Russell Okung and Sean Culkin are two examples.

If you have some BTC and you want to spend it, you may do so at Bitcasino, 1xBit or FortuneJack.

Source

Updated: 11/05/2021 — 14:00