A Competition Between NYC and Miami to Become the Cryptocurrency Capital of the US

After Miami Mayor Francis Suarez, the newly elected New York City Mayor Eric Adams would be taking his paycheck in Bitcoin as well.

In a Tweet on Thursday, Adams said he would take his first three paychecks in the leading cryptocurrency, trading at $62,300, after taking over City Hall in January.

“NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries. Just Wait!”

This tweet has been in response to Miami Mayor Suarez declaring earlier this week that he would take his first paycheck “100% in Bitcoin.” As reported, Suarez won re-election on Tuesday and has his eyes set on building Miami into a crypto hub.

“I look forward to the friendly competition in making our respective cities a crypto capital,” Suarez replied to Adams' tweet about taking his paycheck in BTC and the city's plans to become a hub for crypto innovation.

In January, Adams, a Democrat, will become the mayor of the US’s most popular city after defeating Republican Curtis Sliwa in a landslide victory in Tuesday’s election.

“It shows you that bitcoin is attracting a wide range of interest,” commented Edward Moya, a senior market analyst at FX broker Oanda.

Localism. At the neighborhood level, we are all human and rational. At a nation state level, politics show the irrational extremes of society in gridlock. Progress is now being made most by those who think and act locally. #Bitcoin https://t.co/Kwqrsm38ND

— Kyle Davies (@kyled116) November 5, 2021

Back in June, after winning the Democratic nomination for mayor, in his victory speech, Adams had vowed that the city would become “the center of bitcoins” and “the center of all the technology.”

“Miami, you had your run,” he said at the time.

Earlier this week, Green Bay Packers quarterback Aaron Rodgers also said that he will take some of his NFL pay in bitcoin and that he believes in the trillion-dollar market cap cryptocurrency as part of his promotion with Square’s Cash App.

“Bitcoin is a new concept, and it can be intimidating,” Rodgers said via Twitter, adding that he plans to give away $1 million worth of bitcoin to his fans via the Cash app.