Like other mayors before him, Eric Adams will be drawing a city taxpayer-funded paycheck when he takes office in January.
The difference in his case: it won’t come in dollars and cents.
Adams said Thursday he'll take his first three paychecks in Bitcoin. The promise is in line with his previous comments embracing the cryptocurrency industry, and the business community in general.
It also came in response to Mayor Francis Suarez of Miami, who tweeted earlier this week that he would take his next paycheck “100% in bitcoin.”
Adams tweeted in response: “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!”
An Adams spokesman told NY1 the city would handle the currency conversion, while acknowledging there is no existing mechanism to do so. It was also unclear whether the option could be made available to other municipal workers.
The tweet came after a Wednesday interview in which he discussed eliminating barriers to the industry's growth, and alluded to a “friendly competition” with Miami.
Suarez has made an aggressive effort to attract the cryptocurrency industry to Miami. The city has adopted MiamiCoin, its own cryptocurrency, an innovation Suarez has suggested could eventually eliminate the need for local taxes.
The growth of the cryptocurrency industry has drawn scrutiny from regulators and lawmakers, including here in New York. State legislators have been investigating whether large Bitcoin mining operations, which require massive computing power and create large energy demands, could run afoul of the state’s environmental protections.