Cryptocurrency Champion: NYC Mayor Eric Adams Proves Skeptics Wrong
As the value of Bitcoin surges towards the $100,000 mark, New York City Mayor Eric Adams is reveling in his decision to take his first three paychecks in cryptocurrency. At a press conference on Tuesday, Adams addressed his critics, saying, “Remember when you all laughed at me for getting my Bitcoin? Who’s laughing now?”
A Bold Move Pays Off
Adams’ decision to accept his salary in digital assets was met with ridicule when he first took office in January 2022. However, with Bitcoin’s value more than doubling year-to-date and Ethereum rising 63%, it’s clear that his move has paid off. According to his most recent financial disclosure statement, Adams’ Bitcoin holdings ranged between $5,000 and $54,999 by the end of 2023.
A Crypto Pioneer
Adams’ enthusiasm for cryptocurrency is nothing new. He has been a vocal advocate for positioning New York City as a global hub for crypto innovation. His decision to accept his salary in digital assets was part of this broader push. Miami Mayor Francis Suarez and Belgian parliament member Christophe De Beukelaer have also followed suit, choosing to receive their salaries in Bitcoin.
Controversy Surrounds Adams’ Tenure
Despite his crypto success, Adams’ tenure has been marred by controversy. He is currently facing criminal charges for bribery and campaign finance violations, which he has denied.
The Future of Cryptocurrency
As the value of cryptocurrency continues to rise, it’s clear that Adams’ decision to take a chance on digital assets has paid off. With more and more public officials embracing Bitcoin, it’s likely that we’ll see continued growth in the crypto market. As Adams told reporters, “Go look at my Bitcoin now. You all mock me. Now you wish you would have done it.”
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