NYC Mayor-Elect Eric Adams Wants Bitcoin for First Three Paychecks
Independent

New York City mayor Eric Adams said that he would be turning his initial income from his role into cryptocurrencies.

Adams is changing his first paycheck, which he is receiving on Friday, into ethereum and bitcoin.

"New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations. Being on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe," he said in a statement.

Mayors in New York City earn a salary of $258,750 a year, and the cost of bitcoin is around $42,000 and ethereum costs around $3,210.

The mayor did not specify how the check would be divided between the two.

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According to the news release, because local governments are prohibited from paying employees directly in cryptocurrencies, Adams' paycheck will be "automatically" converted into crypto via Coinbase, a cryptocurrency exchange program.

This announcement occurred a couple of months after he declared in a tweet that he would take his paychecks and turn them into digital currency when he became the mayor.

Additionally, the tweet from Adams was released days after Miami Mayor Francis Suarez said that he would take his next paycheck in the digital currency.

Adams, who took office on New Year's Day, has vowed to make the Big Apple crypto-friendly in recent months.

In November, Adams said he believes cryptocurrencies and blockchain technologies as a whole should be studied in schools.

Speaking to CNN, he said that bitcoin is a "new way" to purchase things worldwide.

"And that's what we must do: open our schools to teach the technology and teach this new way of thinking," he continued.

In the same month, Adams, who was the mayor-elect at the time, flew to Puerto Rico for the annual SOMOS conference by bitcoin billionaire Brock Pierce's private Gulfstream jet.

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