Mayor of New York will take his first 3 salaries in Bitcoin

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New York Mayor-Elect Eric Adams, who is going to take office in January, has said that he will take his first three salaries in bitcoin. Eric Adams has indicated his intention to make the city “the center of the cryptocurrency industry”.

“In New York we always think big, so I’m going to take my first three salaries in bitcoin,” Adams wrote in a Twitter post. NYC is set to become the center of the cryptocurrency industry and the rest of the fast growing new industry! Just wait!” At the same time, the price of bitcoin in India stood at Rs 49.98 lakh on 5th November.

Adams’ tweet came in response to Miami Mayor Francis Suarez, who wrote in his Twitter message that he would take his first salary in bitcoin, the world’s largest cryptocurrency. Suarez, who won the re-election, has been a champion of cryptocurrency, he has done many things to make Miami a hub of cryptocurrency innovation. Adams, who belongs to the Democrat Party, is going to be the second black mayor of New York. He easily defeated Curtis Sliva of the Republicans.

Regarding Adams’ announcement, Edward Moya, a senior market analyst at FX broker Ondum, said that the number of people interested in bitcoin is increasing and may now include the mayor of New York.” Although he added that Eric Adams hasn’t been influential enough to spark public interest in the cryptoverse.

This isn’t the first time Adams has raised the prospect of a cryptocurrency competition between the two cities. After winning the Democratic nomination for mayor in June, he vowed in a victory speech that the city would become “the center of bitcoin” and “the center of all technology.”

Working with the nonprofit Citicoin, the Florida city unveiled a cryptocurrency called MiamiCoin in August. CityCoins sends 30 percent of MiamiCoins generated on a consumer’s computer to the city. As of September, the program earned $7.1 million (approximately Rs 52.83 lakh) for Miami, as reported by The Washington Post.

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