New York City Mayor Eric Adams has recently attracted attention again. At a press conference on Tuesday, he responded to those who had previously derided him with a light-hearted yet slightly sarcastic tone. He laughed and said, 'Remember when I first took my paycheck in Bitcoin? Didn’t you all laugh at me?' He then smugly added, 'Now, go check my Bitcoin.'
When Eric Adams took office as mayor of New York City at the beginning of 2022, he received his first three paychecks in Bitcoin and Ether. According to publicly available information, these cryptocurrencies were worth approximately $32,000 at that time.
The New York City mayor was unwilling to disclose how much cryptocurrency he holds on Tuesday. However, according to his recent financial disclosure statement, by the end of 2023, his Bitcoin holdings are valued 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 exceeded $100,000, while Ether has risen to $3,800.
Eric Adams said, 'You all laughed at me,' as he imitated those who mocked him in a fake voice saying, 'Are you taking your first three paychecks in Bitcoin? Are you kidding me?'
Eric Adams said, 'Now you wish you had done the same back then.' He laughed again.
Image source: X
As Eric Adams became embroiled in multiple controversies, his relationship with cryptocurrency has also been contentious. After taking home a large salary in Bitcoin and Ether, he found himself criticized for failing to disclose his cryptocurrency holdings in the mandatory report submitted to the New York City Conflict of Interest Board.
Since then, Eric Adams has faced increased legal troubles. In September of this year, Eric Adams became the first sitting mayor in New York City history to face criminal charges.
The U.S. Department of Justice accused him of accepting hospitality and benefits from Turkish government officials and businessmen, including luxurious travel accommodations and other perks, in exchange for Turkish national interests in New York.
Despite being indicted, Eric Adams has repeatedly refused calls for him to resign over the past few months. He has also begun to cultivate a relationship with Trump, who will be inaugurated as President of the United States on January 20 and controls the Justice Department.
Although Eric Adams is a Democrat, he stated during a press conference on Tuesday when discussing Trump: 'I made it clear that I will not oppose this administration. I will work with this administration.'
Eric Adams is not the only elected official to receive his salary in cryptocurrency. For example, Miami Mayor Francis Suarez has also stated that his entire salary is paid in Bitcoin.
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This article is reprinted with permission from: (Block City)
'Receiving Salary in Bitcoin Gets Ridiculed! New York City Mayor Retorts: Those Who Laughed at Me Must Regret It Now?' This article was originally published on 'Crypto City.'
