New York and Miami Mayors Vow To Be Paid In Bitcoin

New York and Miami Mayors Vow To Be Paid In Bitcoin

The newly elected mayors of New York City and Miami engaged in some online one-upmanship in an attempt to outdo one other are commitment to Bitcoin innovation. 

Eric Adams, the mayor-elect of New York City, issued the challenge, tweeting that he wanted to earn his first three paychecks in Bitcoin, following Miami mayor Francis Suarez’s announcement that he intended to receive only one round of salary in the digital currency.

“In New York, we always go big, so when I become mayor, I’m going to accept my first THREE paychecks in Bitcoin,” Adams, who was elected this week to succeed current mayor Bill de Blasio in January, tweeted. “The bitcoin sector, as well as other fast-growing, innovative industries, will be centered on New York City!” “Hold your breath!”

The comment came in response to a tweet from just re-elected Miami mayor Carlos Suarez, who stated that he would take his “next paycheck 100% in bitcoin.” Both men appear to be eager to show their support for cryptocurrency efforts in their respective towns; however, the chances of either paid in Bitcoin are slim. After all, city payroll systems not designed to pay public employees in cryptocurrency.

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New York and Miami Mayors Vow To Be Paid In Bitcoin

It would be more practical for the two mayors to get their salaries in dollars and then convert them to Bitcoin, however it is unclear whether each guy will follow through on his commitment. Regardless, the statements provide some details about the two mayors’ aspirations to make their towns the focus of Bitcoin development.

Suarez and Miami appear to have a head start in the contest, with the mayor declaring earlier this year that the city intends to allow Bitcoin payments for wages and taxes. The Florida city has also become a key center for cryptocurrency events, hosting Bitcoin 2021, the world’s largest Bitcoin conference. According to the Washington Post, Suarez has also thrown his support to a local cryptocurrency initiative called MiamiCoin, which allows users to invest crypto in the city and has already earned over $7 million for Miami.

Adams highlighted his wish to see the Big Apple catch up to the rest of the country, telling Bloomberg Radio that “[Suarez] has a MiamiCoin that is doing very well – we’re going to look in the direction to carry it through.” “Look at what’s limiting the rise of Bitcoin and cryptocurrencies in our city,” the incoming mayor added.

Attorney General Letitia James, who has previously backed a crackdown on unregistered cryptocurrency firms in New York, may not agree with Adams’ aspirations to turn New York into a crypto hub. The state has also considered prohibiting Bitcoin mining owing to its significant environmental effect, but Adams’ words appear to signal a significant shift in that direction. Suarez, meanwhile, welcomed the challenge thrown by Adams and said he was enjoying “friendly competition” between the two cities.