New York City mayor-elect Eric Adams plans to take his first three paychecks in bitcoin, in the politician’s latest move to give Miami a run for its money as one of the country’s top destinations for crypto enthusiasts.
“NYC is going to be the center of the cryptocurrency industry,” Adams said in a tweet on Thursday.
In this same post, he wrote that in New York, “we always go big” so he would be taking his “first THREE paychecks” in bitcoin. Adams appeared to be trying to one-up Miami Mayor Francis Suarez, who said on Tuesday that he would be taking his next paycheck “100% in bitcoin.”
Since winning office, the New York mayor has been throwing down with Suarez in a battle over who can transform their respective fiefdoms into crypto capitals of the country.
Mayor Suarez’s progressive crypto policies have already begun to attract top talent.
Start-ups, venture firms, and crypto exchanges have been relocating to the city – or at least opening additional offices. Suarez also announced in February that Miami plans to accept tax payments in bitcoin and let employees draw their salary in the cryptocurrency.
Bitcoin 2021, billed as the biggest bitcoin event in history, attracted legions of faithful fans to Miami earlier this year. Countless other crypto-related conferences have chosen Miami specifically because the city has rolled out the red carpet for this industry.
Adams appears keen to re-direct some of that crypto limelight.
The New York mayor-elect said in an interview with Bloomberg Radio on Wednesday that he wanted to wager a “friendly competition” with Suarez.
“He has a MiamiCoin that is doing very well – we’re going to look in the direction to carry that out,” Adams told Bloomberg Radio.
Adams also said in this interview that he planned to look at what was preventing the growth of bitcoin and cryptocurrency in New York.
New York was weighing legislation this year to ban bitcoin mining for three years so it could run an environmental assessment to gauge its greenhouse gas emissions. Lawmakers have since largely walked it back. Meanwhile, Miami has actively been trying to recruit bitcoin miners to South Florida to make use of the region’s nuclear power.
One pillar of Adams’ campaign was to make the city more friendly to businesses.
“Let’s hit reset,” Adams said in an interview with CNBC on Wednesday.
“We call ourselves the Empire state. How don’t we engage with those who have the empires here?” continued Adams.