Will Eric Adams take his first three paychecks in Bitcoin?

Brittainy Newman for The New York Times In November, Eric Adams made an announcement that galvanized the cryptocurrency world: Once he became mayor of New York City, he would take his first three paychecks in Bitcoin. Mr. Adams has now followed through on that promise, to the extent that he could.

Will Mayor Eric Adams convert his paycheck to cryptocurrency?

Mayor Eric Adams’ grand experiment with converting his paycheck to cryptocurrency began Friday — just in time for the latest plunge in value for bitcoin and other leading tokens. The price of bitcoin hit a six-month low on Friday, sinking approximately 10 percent to $38,565 per token as of noon, according to cryptocurrency platform Coinbase.

Did Mayor Adam Adams buy bitcoin?

It isn’t clear if this is Adams’s first crypto purchase, and a spokesman didn’t respond to a request for comment. The mayor’s prior financial disclosures previously don’t mention anything about his owning them, for whatever that’s worth. Since his announcement, Bitcoin shot up by about $500.

Why is John Adams embracing cryptocurrency?

Suarez told The Associated Press in an interview in November that Adams' embrace of cryptocurrency shows he understands “cities have to be on the forefront of innovation.”