• Eric Adams, the New York City Mayor-elect, is a Bitcoin enthusiast and says that he has great plans for the city in relation to crypto.
• While Miami Mayor Francis Suárez said he expects his first paycheck to be entirely in bitcoins.

Already, there are two American mayors that prefer bitcoins for their salaries. They want their respective cities to become important trading and investment centers.

Eric Adams, New York City’s mayor, has stated that he plans to apply for his salary in cryptocurrency. While Francis Suárez, current mayor of Miami, hopes to receive his next salary payment fully in cryptocurrency as well.

The cities are yet to decide if they will adopt BTC or other private cryptocurrency as wage payments for their public employees. They may not be able to pay bitcoins.

However, Miami has already come a long way in its plans to become the world’s first “cryptocurrency innovation hub.” The municipality allows the payment of taxes in cryptocurrencies. The city even has its own cryptocurrency, the ‘MiamiCoin’.

The base cryptocurrency for the token is Stacks. Tokens that have been deposited into the Miami Reserve wallet will be converted automatically to dollars. They are available to city employees at all times.

New York City could, however, approve a crypto-based system for wage payments.

After being prompted by a tweet from Anthony Pompliano (another BTC enthusiast), both mayors shared their crypto plans.

“It’s time. It is time for the United States to become the first country to receive their salaries in Bitcoin.
Pompliano posted on his Twitter account (NYSE:).

The mayor of Miami revealed that he will request that his next payment be “100%” in BTC, to which Adams also responded that he plans to collect his first three salaries in the cryptocurrency.

Additionally, the mayor-elect promised that he will make New York the “center of the cryptocurrency industry and other fast-growing innovative industries.”

Although the crypto industry wasn’t part of Adams’ election campaign, Adams said that Adams plans to make digital assets prominent in his government program.

Speaking to Bloomberg Radio, the mayor said he admired Suárez’s work in Miami and would try to follow him.

“He has a MiamiCoin that is doing very well — we’re going to look in the direction to carry that out,”
He said. Adams hopes to promote industry-related jobs and introduce BTC in the NYC economy.

“In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor”,
Adams responded to Suarez’s tweet.

Likewise, Mayor Miami, who was recently re-elected, plans to transform Florida’s largest city into a new hub for digital finance.

Suárez not only wants to collect his salaries in bitcoins, but to run a cryptocurrency salary payment plan for city employees.

Flipside

• It is now that the United States has seen the rise in popularity of Bitcoin and other crypto currencies.
• Industries are viewed by states and counties as sources of revenue, both direct and indirect.

What are the reasons to care?

• BTC, and all other cryptos, are legal in the US. They have however not been accepted by states as legal tender.
• Acceptance of many BTC-related project and regulation of digital currencies has raised confidence in this asset, even though it can be volatile.

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