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Eric Adams bullish on BTC

Friends and supporters of BTC #2: Mayor of New York City Eric Adams

By crypto_albert | crypto_addiction | 14 Aug 2022


After the article dedicated to the Mayor of Miami Francis Xavier Suarez, I continue my review of influential people who support Bitcoin. Today I’m talking about Eric Adams, Mayor of New York City, Democrat, 61, who has ruled the Big Apple since January 1, 2022.

Eric Adams

On January 20, 2022, he announced that his salary would be automatically converted into Cryptocurrency via Coinbase, precisely in Ethereum and Bitcoin. According to U.S. Department of Labor regulations, New York City cannot pay employees in Cryptocurrency. By using a Cryptocurrency exchange like Coinbase, anyone paid in U.S. dollars can have funds converted into Cryptocurrency before funds are deposited into their account. His announcement follows his tweet on his official profile in which he replied to Miami Mayor Francis Suarez, saying he too would take his first three wages in Bitcoin when he became mayor.

Eric Adams tweet

Mayor Adams said, “New York is the center of the world, and we want it to be the center of Cryptocurrency and other financial innovations. Being on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe.“ When asked if he hadn’t changed his mind about Cryptocurrency wages given the bear market, Adams replied: “I lost about a hundred-and-something thousand dollars when the stock market crashed out of my 401 (k). We know it goes up and down. Bitcoin is here to stay, and the bulk of the investment is here in New York City.“

Eric Adams bullish on BTC

When the New York State Senate approved a proof-of-work (PoW) mining ban bill that would prohibit any new Bitcoin mining operations in the state, Adams said he was against this decision. According to a tweet from Brain Pascus on June 14, 2022, Adams planned to ask Governor Hochul to veto cryptomining bill.

New York State Proof of Work mining ban

New York is the second city in the United States after Miami to acquire its Citycoin, NYCCoin, a Cryptocurrency powered by the Stacks Protocol, which enables smart contracts on Bitcoin. NYCCoin aims to build web3 apps, mint NFTs, or otherwise improve the city’s digital infrastructure. Anyone can mine NYCCoin, program NYCCoin via smart contracts and even earn BTC from the protocol as it gets more usage. NYCCoin is listed on Coinmarketcap and today has a price of $ 0.00037.

NYCCoin

Leave a comment below and tell me what you think about the Citycoins and if they are a project destined to take off or not. Also tell me if you know any other noteworthy supporters of Bitcoin and Cryptocurrencies. Consider this space a place to talk without censorship.

A winner is a dreamer who never gives up.

DisclaimerI am not aware of any third party rights on the images used. I undertake to cite the source if there are any and to adjust the position if requested.

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crypto_albert
crypto_albert

Cryptocurrencies addicted since 2018. I help people to understand better this sector and its purposes.


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