Eric Adams, the mayor of New York City, makes New Yorkers laugh.
He insults rats. He’s a self-professed vegan who eats fish. And he’s prone to verbal gaffes.
“One of the gifts that I have that really made me good at being a mayor is my ability to sexualize and stay focused,” he said in August during a panel at the 2024 Democratic National Convention.
Now, as Bitcoin flirts with the $100,000 mark after soaring 129% this year, Adams said the joke is on his doubters.
“Remember y’all laughed at me when I first got my Bitcoin,” he said during a press conference on Tuesday. “Who’s laughing now?”
In January 2022, when Adams assumed office, he received his first three paychecks in Bitcoin and Ether.
That was approximately $30,000 in cryptocurrency, according to Hell Gate, a New York City-focused publication.
On Tuesday, Adams declined to disclose how much in crypto he holds. But his Bitcoin holdings were somewhere between $5,000 and $54,999 by the end of 2023, according to his most recent financial disclosure statement.
Bitcoin’s price has more than doubled to now almost $97,000 year-to-date, according to CoinGecko. And Ether has increased 63% to around $3,700.
“Go look at my Bitcoin now,” Adams gloated to reporters on Tuesday. “You all mock me. ‘You’re taking your first three paychecks in Bitcoin. What’s wrong with you?’ Now you wish you would have done it.”
The mayor is currently facing criminal charges of bribery and campaign finance violations. He has denied all wrongdoing.
Bitcoin for Mayor
Adams isn’t the only elected official to have received a paycheck in crypto.
Francis Suarez, the mayor of Miami, has also said he received his entire salary in Bitcoin, according to Bloomberg News.
And Christophe De Beukelaer, a member of the Belgian parliament, said in 2022 he would also be paid in the world’s largest cryptocurrency, according to the Belgian publication Bruzz.
Adams, Suarez, and De Beukelaer did not immediately respond to requests for comment regarding how much Bitcoin they hold.
Suarez and De Beukelaer also did not immediately say whether they’re as jubilant as Adams amid crypto’s recent surge.
Crypto market movers
Bitcoin is up 1.8% over the past 24 hours to trade at $96,518.
Ethereum is up 3.5% to $3,721.
What we’re reading
Pantera Capital raises $20m to back Telegram-linked blockchain TON — DL News
There’s a new sheriff (SEC Chair) in town — Milk Road
10 huge moments you missed in Nov. — Milk Road
Trump Taps Paul Atkins for Next SEC Chair, Making Good on His Crypto Promises — Unchained
New Cambridge research finds ‘shocking’ concentration of power in DAO governance — DL News
Ben Weiss is DL News’ Dubai Correspondent. Got a tip? Email him at bweiss@dlnews.com.
