The Magazine for Asian Investors
After Miami’s mayor wants his salary paid in Bitcoin, his newly elected colleague in NYC is jumping in the same lane. Not even a week ago, Eric Adams won the mayoral election in NYC and made headlines again, but this time in a rather unusual way, when he announced that his first three salaries would be paid in Bitcoin.
Adams already impressed during his campaign trail by saying, “We’re going to bring business here. We’re going to become the center of life science, the center of cybersecurity, the center of self-driving cars, drones, the center of Bitcoins.”
So he wants to make NYC a center for Bitcoin and he wants to exemplify that with his salary. He is not the first with this movement, as athletes, politicians, and even countries have already accepted Bitcoin.
Could this be seen as a move against the U.S. dollar?
It is clear that even politicians see that the purchasing power of the U.S. dollar continues to decline. Since Bitcoin is a decentralized system, more people are expected to turn to the cryptocurrency in the future, which should cause prices to rise further.
Whether the salary of the new mayor will now be paid in Bitcoin also depends on the city of New York. What is certain is that Bitcoin will become more popular, not only with people who want to escape the banking system but also with people who are in the spotlight.