New York City mayor to convert his first paycheck into Bitcoin, Ethereum

WASHINGTON

New York City Mayor Eric Adams said Thursday that he will convert his first paycheck into Bitcoin and Ethereum cryptocurrencies.

He will receive his check Friday.

"New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations,” Adams said in a statement. "Being on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe."

Adams' paycheck will automatically be converted to cryptocurrency via Coinbase, a leading cryptocurrency exchange in the US.

The then-mayor-elect said in November he would accept his first three paychecks in cryptocurrency.

"NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!" Adams said Nov. 5 on Twitter.

Bitcoin is currently above $43,100.