Following in the footsteps of Miami’s mayor, New York’s mayor will get paid in BTC
A new round of Bitcoin bull trend recently occurred following the debut of the first bitcoin exchange-traded fund on the New York Stock Exchange. As you know, BTC surpassed its historical high and growed up to $69,000. Well, it is not surprising that such a market situation attracts more investors to the crypto industry. Some of the USA mayors are crypto-friendly and want to get their payments in crypto.
Eric Adams, the newly elected mayor of New York, wishes to receive his first three salaries in bitcoins. He announced it on Twitter. The official went on to say that he wants to make New York City “the heart of the cryptocurrency sector.” Adams is attempting to outdo Miami Mayor Francis Suarez, who earlier declared that he will get his next paycheck in bitcoin, according to CNBC. According to previous data, Miami Mayor Francis Suarez has stated that he is eager to become the first politician in the United States to receive his paychecks in bitcoins. Suarez is the city’s 43rd mayor, having held elected office in 2017.
In answer to Morgan Creek Digital Assets co-founder Anthony Pompliano’s query, Francis Suarez tweeted this ““It is time. Who is going to be the first American politician to accept their salary in bitcoin?” Suarez took the initiative and stated that he would be the man in charge. Suarez went on to say that he would like to utilize Strike’s wallet or Bitwage, a Bitcoin payroll provider so that local governments don’t have to go through the hassle of converting fiat money into cryptocurrency.
Moreover, Miami, with Suarez’s help, will create its cryptocurrency, MiamiCoin, in August 2021 to fund infrastructure improvements and civic activities. Bitcoin contributed over $8 million to the municipal budget in just two months. Suarez thinks that by 2022, this income will be at least $60 million, which will be spent to address social issues. The interesting fact is also that Suarez stated that he would invest in the first cryptocurrency and Ethereum in March 2021, following the approval of a $1.9 trillion economic rescue plan by the United States Senate.
Overall, there are four mayors in the USA, who are willing to get their paycheck in cryptocurrency. Although bitcoin is still regarded as a new and unpredictable digital asset in the young market, it is steadily gaining recognition in Washington. Senator Cynthia Lummis of the United States recently acquired up to $100,000 in bitcoins. Lummis represents Wyoming, a cryptocurrency-friendly state, so it’s no surprise that she recognizes the value of cryptocurrencies and is accumulating them. Recently, she made a BTC purchase through River Financial, her brokerage platform. According to the Senate spokesman, she decided to purchase BTC in 2013 at $330. Her most recent acquisition, however, garnered criticism due to the late notification of the deal.
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Valentyna Bereza, Team bit4you.