New York Incumbent Mayor Eric Adams Will Receive Salary In Bitcoin

Eric Adams tweeted that he intends to receive his first three salaries in Bitcoin. Adams has also doubled down on his plans to turn New York into a "hub for the cryptocurrency industry" after taking office in January. The clear statement of political support for the cryptocurrency came in response to an earlier tweet from Anthony Pompliano, who is known for advertising Bitcoin.

Miami Mayor Francis Suarez, re-elected this week, responded to a tweet that he plans to receive his next paycheck in Bitcoin as well. This prompted Adams to respond by uplifting his Republican counterpart, "We always make great strides in New York, so I'm going to get my first THREE bitcoin salaries when I become mayor."

The race to become the first US politician to accept their salary in crypto is evidence of the rivalry between cities to become the leading cryptocurrency hubs in the US. When he won the Democratic nomination for mayor in June, Adams pledged that New York would become a Bitcoin hub.

In an interview with Bloomberg on Wednesday, Adams promised to look at what is holding back the city's Bitcoin and cryptocurrency growth. " He also indicated that he plans to follow in Suarez's footsteps and create a product that resembles MiamiCoin.

As a reminder, users use Stacks, smart contracts, and a Bitcoin-powered application layer to mine MiamiCoin, with 30% of the proceeds going back to the city to fund various municipal projects. The remaining 70% of the income can be earmarked as Bitcoin rewards.