New York City Mayor Eric Adams has recently drawn attention again; at a news conference on Tuesday, he responded with a relaxed yet slightly sarcastic tone to those who had previously criticized him. He laughed and said, "Remember when I first took my salary in Bitcoin? Didn’t you all laugh at me?" Then, shifting his tone, he added proudly, "Now, go check my Bitcoin."
When Eric Adams took office as Mayor of New York City in early 2022, his first 3 paychecks were taken in Bitcoin and Ethereum. According to publicly available data, these cryptocurrencies were worth approximately $32,000 at that time.
The New York City Mayor was reluctant to disclose how much cryptocurrency he holds on Tuesday. However, according to his recent financial disclosure statement, by the end of 2023, the value of his Bitcoin holdings ranges between $5,000 and $54,999.
Since then, the price of Bitcoin has more than doubled; at the time of writing, Bitcoin's price has surpassed $100,000, while Ethereum has climbed to $3,800.
Eric Adams stated, "You all mocked me," using a fake voice to imitate those who mocked him, saying, "You took your first 3 paychecks in Bitcoin? Are you out of your mind?"
Eric Adams said, "Now you all wish you had done the same back then." He laughed again.
#IYKYK #FFTB
"You all mocked me, ‘You’re taking your first 3 paychecks in #Bitcoin, what’s wrong with you?’ Now you wish you would have done."
NYC Mayor Eric Adams
pic.twitter.com/PtRMiGMhIb
— Steve | Crypto.com (@skalifowitz) December 4, 2024
Just as Eric Adams has been embroiled in multiple controversies, his relationship with cryptocurrency is also contentious. After he took home a large salary in Bitcoin and Ethereum, he found himself in a criticized predicament for not disclosing his cryptocurrency holdings in the mandatory report submitted to the New York Conflict of Interest Board.
Since then, Eric Adams has faced an increase in legal troubles. In September of this year, Eric Adams became the first mayor in New York City history to be criminally charged while in office.
The U.S. Justice Department accused him of accepting hospitality and benefits from Turkish government officials and businessmen, including luxury travel accommodations and other perks, in exchange for Turkish national interests in New York.
Despite being indicted, Eric Adams has been resisting calls for his resignation over the past few months. He has also begun to cozy up to Trump, who will be inaugurated as President of the United States on January 20 and will control the Justice Department.
Although Eric Adams is a Democrat, he stated during a news conference on Tuesday regarding Trump, "I have indicated that I will not oppose this administration. I will work with this administration."
Eric Adams is not the only elected official taking his salary in cryptocurrency. For example, Miami Mayor Francis Suarez has also stated that his entire salary is paid in Bitcoin.
"At first, taking salary in Bitcoin was heavily criticized! NYC Mayor strikes back: Those who mocked me must regret it now?" This article was first published on (Blockcast).
