NYC Mayor Eric Adams Takes Victory Lap: 'Remember Y'All Laughed When I First Got My Bitcoin? Who's Laughing Now?'

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NYC Mayor Eric Adams Takes Victory Lap: 'Remember Y'All Laughed When I First Got My Bitcoin? Who's Laughing Now?'

crypto :: 2024-12-06 :: source - benzinga

NYC Mayor Eric Adams Takes Victory Lap: 'Remember Y'All Laughed When I First Got My Bitcoin? Who's Laughing Now?'

By Murtuza Merchant

New York City Mayor Eric Adams is seizing the moment as Bitcoin's (CRYPTO: BTC) value edges closer to the $100,000 mark, up 129% this year.

At a press conference on Tuesday, Adams had a pointed message for his skeptics: "Remember y'all laughed at me when I first got my Bitcoin? Who's laughing now?"

Adams, who took his first three paychecks in Bitcoin and Ethereum (CRYPTO: ETH) upon assuming office in January 2022, faced ridicule at the time.

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According to Hell Gate, these payments amounted to approximately $30,000 in cryptocurrency, DL News reported.

Bitcoin, now trading at nearly $97,000, has more than doubled in value year-to-date, while Ethereum has risen 63% to about $3,700, according to CoinGecko.

The mayor declined to reveal his current crypto holdings but, according to his most recent financial disclosure statement, his Bitcoin holdings by the end of 2023 ranged between $5,000 and $54,999.

"Go look at my Bitcoin now," Adams told reporters. "You all mock me. ‘You're taking your first three paychecks in Bitcoin. What's wrong with you?' Now you wish you would have done it."

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Adams’ enthusiasm for crypto isn't new.

His decision to accept his salary in digital assets was part of his broader push to position New York City as a global hub for cryptocurrency innovation.

However, Adams' tenure hasn't been without controversy. He is currently facing criminal charges for bribery and campaign finance violations, accusations he has denied.

Adams is not alone among public officials who have embraced Bitcoin.

Miami Mayor Francis Suarez and Belgian parliament member Christophe De Beukelaer have also chosen to receive their salaries in the world's largest cryptocurrency.

Suarez, known for his pro-crypto stance, and De Beukelaer, who made headlines in 2022 for converting his salary to Bitcoin, have yet to comment on the recent crypto surge or their current holdings.

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Photo: Wikimedia Commons

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This article NYC Mayor Eric Adams Takes Victory Lap: 'Remember Y'All Laughed When I First Got My Bitcoin? Who's Laughing Now?' originally appeared on Benzinga.com