New York's Mayor-Elect Says He Will Take First Three Paychecks In Bitcoin

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by Tyler Durden
Thursday, Nov 04, 2021 - 10:25 PM

One day after we reported that Miami Mayor Francis Suarez became the first U.S. politician to announce his intention to convert 100% of his next paycheck into bitcoin, New York City's brand new mayor-elect, Eric Adams, tried to outdo Suarez and because "in New York we always go big", Adams said that he would take his first three paychecks in Bitcoin when he officially replaces socialist disaster Bill de Blasio in January.

Responding to a tweet from Suarez, Adams said that "“NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries.”

Adams, a Democrat, has said he wanted to turn New York into a crypto-friendly city and that he wants to explore a NYC Coin similar to Miami’s. In an interview on Bloomberg Radio after being elected mayor on Nov. 2, he wagered a “friendly competition” with the mayor of Miami, who was the first to set up a so-called CityCoin cryptocurrency.

“He has a MiamiCoin that is doing very well -- we’re going to look in the direction to carry that out,” Adams said in a Wednesday interview on Bloomberg Radio. He vowed to “look at what’s preventing the growth of Bitcoin and cryptocurrency in our city.”

Adams also pledged to make New York City more business-friendly. In Brooklyn, where Adams has been borough president, there’s been a 356% increase in tech startups in a 10-year span, he said. In the past three months, he’s sat down with tech leaders, including those from Israeli and local companies, and two days ago, he met with 30 tech startups.

The NYPD former police captain said the city must build a pipeline of talent for crypto-related jobs, “because we can’t have a one-sided city where certain groups and areas are doing well.”

“We’re too bureaucratic, too expensive, and too difficult to do business,” Adams said. “Our agencies - they go into businesses and are looking for ways to penalize or fine them. We’re changing that atmosphere all together....This is the Empire State, and we’re going to build empires,” he said.

However the most "progressive" City Council yet will make a mockery of Adams' pro-business ambitions.