As a reminder, the story of getting paid in Bitcoin began with prominent cryptocurrency investor Anthony Pompliano. He asked on his own Twitter which US politician would be the first recipient of a BTC check - and Miami Mayor Francis Suarez responded. Now he has found another colleague willing to take the same step.

Who gets paid in Bitcoin

Here’s Adams’ quote about his new strategy, published by Decrypt. In it, the politician shares his attitude to what’s happening.

In New York City, we do everything with a swing, so my first three paychecks will be in Bitcoin. New York is going to be the hub of the cryptocurrency industry and innovation!

Adams also received congratulations from his colleague Suarez on Twitter.

Congratulations on winning the election and look forward to good competition in turning our cities into crypto-world capitals!

New York Mayor Eric Adams

True, it is not yet known exactly how New York City Mayor’s Office will be able to legally make payments in Bitcoin. There is precedent for this in the form of payments to National Football League (NFL) players Russell Okung and Sean Culkin, but they were essentially getting paid in dollars with instant conversion to BTC thanks to a partnership with the Strike payment platform.

But besides the aforementioned statement, Adams has another ace up his sleeve. Earlier in an interview with Bloomberg, he said that he plans to launch the CityCoin token as the official cryptocurrency of New York City. It should be a counterpart to the MiamiCoin token launched by Suarez in August. Incidentally, the MiamiCoin project has already managed to generate more than $20 million in revenue for the city’s municipal budget in a few months.

We dealt with the topic of Miami cryptocurrency in a separate article. We recommend reading the article to stay abreast of what is going on inside the coin niche.

Adams and Suarez may be pushing their cryptocurrencies at one of the best times for the entire industry. At least, that’s the conclusion to be drawn after a statement from former Goldman Sachs manager and Real Vision fund founder Raul Paul. He believes that the bullish trend will not end this December, as many cryptocurrency enthusiasts assume, comparing Bitcoin’s current rise to the bubbles of 2015 and 2017.

Instead, Bitcoin and altcoins will continue to rise until at least March or even June 2022. True, there will be some “sacrifices” along the way: Paul believes we will still see a major correction in crypto-assets in the next six months, i.e. a market collapse.

I think it’s worth waiting for a collapse before cryptocurrencies jump in price, as that’s the path of greatest pain for many market participants, and that’s the path markets tend to take.

Bitcoin price trend over the last 90 days

What does this mean? The expert is of the opinion that for large market makers, a big collapse would be beneficial for additional coin accumulation before the final spurt of the bullrun. That said, this spurt could be unprecedentedly large in terms of coin returns – something many don’t expect, so such a sharp rise would result in a big missed profit among investors.

However, this is nothing more than speculation and guessing about the future based on the past. We recommend you not to rely on anybody's predictions and instead make a personal study and analysis of the market. By doing so, you will be able to take responsibility for your actions and that is the best thing for this kind of niche, where things are changing very fast.

Bitcoin growth


We believe that this trend with Bitcoin's wages will benefit the cryptocurrency niche. After all, politicians attract a lot of attention from voters, so their actions will surely become an example for someone. That means we should expect, if not an increase in crypto payrolls, then at least an increase in the number of investors in digital assets. And that's bound to happen.

What do you think about it? Share your opinion in our Millionaire Crypto Chat. There we will discuss other important developments in the world of blockchain and decentralisation.