Eric Adams, the mayor of New York, is the latest pro-crypto mayor to be paid in Bitcoin.
According to reports, New York City's new mayor, Eric Adams, has taken a bold step to fulfill one of his promises, as he is set to receive his first paycheck in Bitcoin.
In November of last year, the Mayor promised to accept his first three paychecks as Mayor in cryptocurrency.
Mayor Adams will be compensated in Bitcoin.
According to recent revelations, Mayor Adams will receive his first paycheck in Bitcoin and Ethereum later this Friday. The paycheck would be converted using Coinbase, one of the leading cryptocurrency exchanges in the United States.
It is worth noting that when Mayor Adams made his promise about cryptocurrencies, the crypto market was on a tear that culminated in an all-time high.
However, the crypto market has since lost the majority of its gains, as the flagship digital asset has dropped below the $40k mark for the second time in recent weeks.
Despite the drop in value, the pro-crypto mayor appears unconcerned. In one of his recent statements, he stated his desire to make New York the center of the world's financial innovations.
Aside from the mayor of New York City, another pro-crypto mayor is Miami's Francis Suarez, who was the first to receive his paycheck in Bitcoin.