• New York Mayor Eric Adams wants his first three salaries in Bitcoin
• Other politicians insist on crypto salary payments
• US mayors race for crypto targets
On November 3, 2021, ex-police officer Eric Adams won the election for Mayor of New York and already made some of his goals and views public via Twitter.
US mayors are calling for Bitcoin wages to be paid out
Adams responded, among other things, to the contribution of his colleague Francis Suarez, who currently holds the office of Mayor of Miami. In this post, Suarez stated that he wanted to have 100 percent of his next salary paid out in Bitcoin in order to go down in history as the first American politician to receive his wages in the form of a cryptocurrency. Adams took this announcement as an opportunity to jump on the crypto bandwagon as well. The New York City Mayor promptly topped it off with Adams declaring that he even wanted to have his first three salaries paid out in Bitcoin.
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!
– Eric Adams (@ericadamsfornyc) November 4, 2021
This is the goal of Adams and Suarez
As Adams explained to the US news portal CNBC, he wants to establish New York as a center for crypto currencies – a goal that Suarez is pursuing as well as himself. According to business news portal The Verge, the Mayor of Miami is currently ahead of the game when it comes to attracting cryptocurrency investors. Miami supports the first CityCoin on the crypto market – the so-called MiamiCoin. This made Miami the first city with its own crypto money that should benefit local projects such as infrastructure development.
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Miami was also chosen as the location for the conference at which Nayib Bukele, President of the Central American state El Salvador, announced that Bitcoin would be the official currency.
Will salaries be paid in Bitcoin in the future?
The possibility of paying salaries in the form of cryptocurrencies is currently being discussed. The demands of the US mayors have not yet been confirmed either. The reason for this is, among other things, the equipment of the respective city administrations, as well as the preparation of these for such transactions. There are also questions about how to deal with taxes and fluctuating Bitcoin rates that need to be resolved before Adams or Suarez can receive their wages in Bitcoin.
Finanzen.ch editors
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