NYC Mayor-Elect Eric Adams to Take First 3 Paychecks in Bitcoin

Incoming New York City Mayor Eric Adams said on Thursday that he will take his first three paychecks in bitcoin when he takes office in January.

• “In New York, we always go big, so I’m going to take my first THREE paychecks in bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!” Adams wrote in a tweet on Thursday.

• The tweet was in response to one from Miami Mayor Francis Suarez, who on Tuesday pledged to take his next paycheck in bitcoin. Suarez won reelection earlier this week by a wide margin.

• Adams, currently the Brooklyn borough president and a retired New York City Police Department captain, was pro-crypto throughout his campaign that culminated with a victory at the polls earlier this week. The support is notable because New York City, despite being a major financial center, has some of the nation’s toughest cryptocurrency rules that require licenses for most types of crypto transactions.