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New York City mayor-elect says he'll take his first three paychecks in Bitcoin

Telling his Twitter followers he wants his city to be "the center of the cryptocurrency industry," NYC Mayor-elect Eric Adams is embracing Bitcoin.


New York City Mayor-elect Eric Adams.

Pablo Monsalve/Getty Images

Spurred by a tweet from the mayor of Miami, New York City Mayor-elect Eric Adams told followers Thursday that he plans to take his first three mayoral paychecks in Bitcoin.

"NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries," Adams tweeted. "Just wait!

It's a high-profile embrace of digital currency at a time when regulators in the US, including in New York City, are heightening scrutiny of cryptocurrency exchanges. Last month, New York state Attorney General Letitia James asked two lending platforms to cease activities after winning a court order forcing the closure of the cryptocurrency exchange Coinseed.

Still, Bitcoin may be on the rise in the Big Apple. On Oct. 19, ProShares, an investment management firm, launched the Bitcoin Strategy ETF, the first Bitcoin-linked exchange fund to be listed on the New York Stock Exchange.

The Adams campaign didn't immediately respond to a request for additional comment.