New York City Mayor-elect Eric Adams takes the first 3 paychecks in Bitcoin


New York City Democratic Mayor-elect Eric Adams gestures during his 2021 election victory night party at the Brooklyn Marriott on November 2, 2021 in New York City.

Angela Weiss | AFP | Getty Images

New York City Mayor-Elect Eric Adams plans to take his first three paychecks in Bitcoin to run Miami for its money as one of the country’s most popular travel destinations for crypto enthusiasts.

“NYC will be the center of the cryptocurrency industry,” Adams said in a tweet on Thursday.

In the same post he wrote that in New York “we always make it big” so he would take his “first THREE paychecks” in Bitcoin. Adams appeared to be trying to overpower Miami Mayor Francis Suarez, who on Tuesday said he would take his next “100% in Bitcoin” paycheck.

Since taking office, the New York mayor has been arguing with Suarez over who can turn their respective fiefs into the country’s crypto capitals.

Mayor Suarez’s progressive crypto policy has already started attracting top talent.

Start-ups, venture companies and crypto exchanges are moving to the city – or at least opening additional offices. Suarez also announced in February that Miami plans to accept tax payments in Bitcoin and let employees get their salaries in the cryptocurrency.

Bitcoin 2021, considered the biggest Bitcoin event in history, drew legions of loyal fans to Miami earlier this year. Countless other crypto-themed conferences have chosen Miami specifically because the city rolled out the red carpet for that industry.

Adams seems interested in redirecting some of that crypto limelight.

The New York City Mayor-elect said in an interview with Bloomberg Radio on Wednesday that he would bet a “friendly competition” with Suarez.

“He has a MiamiCoin that is doing very well – we’ll look in the direction to make that happen,” Adams told Bloomberg Radio.

Adams also said in that interview that he plans to investigate what is preventing bitcoin and cryptocurrency from growing in New York.

New York this year weighed legislation banning Bitcoin mining for three years so it can conduct an environmental assessment to measure its greenhouse gas emissions. The legislature has since largely withdrawn it. Meanwhile, Miami is actively trying to recruit bitcoin miners to South Florida to harness the region’s nuclear power.

A pillar of Adams’ campaign was to make the city more business-friendly.

“Let’s press reset,” Adams said in an interview with CNBC on Wednesday.

“We call ourselves the imperial state. How can we not deal with those who have empires here? ”Adams continued.