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June 28, 2022
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New York Mayor Wants His Salary in Bitcoin

New York has all the hallmarks of a major financial center for Bitcoin and cryptocurrencies, and the newly elected mayor has said he is ready to take his salary in Bitcoin.

Eric Adams has confirmed that he will accept his first three Bitcoin salaries. This happened shortly after the mayor delivered an electoral victory speech promising to make New York “a center for Bitcoin“.

The strategy is actually a big marketing ploy with a bigger plan, turning the city into the biggest hub for cryptocurrencies, attracting companies that will pay taxes, as well as improving the financial life of this group whose tendency is to start accepting bitcoin more often.

Adams unveiled his new plans today on Twitter in response to business podcast host Anthony Pompliano. Two days ago, the popular BTC supporter publicly asked which American politician would be the first to accept his salary in Bitcoin.

Interestingly, however, he did this in response to a tweet from Miami Mayor Francis Suarez in which he announced that he would like to receive his next paycheck in Bitcoin.

In addition to cities, other sectors are also in this race, such as banks that this year began offering services related to the purchase and custody of bitcoin. Nobody wants to be left behind.

Miami x New York

There appears to be a rivalry brewing between Suarez and Adams on this front. Both mayors are now trying to become global cryptocurrency centers ahead of their competitors. This competition between mayors and between cities is likely to benefit the cryptoactive market. Miami has been working on this for some time, but New York’s financial power is unbeatable.

Adams’ intention is to be the new Silicon Valley, a region made up of cities like Palo Alto, San Francisco and Santa Clara, which has become an icon due to the large number of technology companies like Google, Facebook and Apple. It is an obvious bet for those who depend on taxes to generate more improvements.

If New York were to become a major global hub for the cryptoactive industry, it could benefit the industry in many ways and perhaps even permanently eliminate some of the reluctance that still exists on the part of big global finance to be fully involved in this sector.

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