The US has very much become the focal point of cryptocurrencies in the past year. Not only has it been able to allow a multitude of crypto companies to set up shop, but it has also taken in the businesses that came from China.
In fact, the Ban on China has been incredibly helpful for the US in helping it assert its dominance on the crypto market. Just in terms of mining alone, the US contributes a total of 35% of the entire hash rate of Bitcoin worldwide. Many companies throughout the country have even started to accept cryptocurrencies into their respective frameworks. Financial institutions are also working on their efforts to bring cryptocurrencies into the mainstream by offering their services for it as well.
Even the current mayor-elect of New York has plans for making New York the new hub for crypto innovation. He very famously said that he is willing to take his first three paychecks in Bitcoin after signing into office. While a bold claim, the message has become very obvious. Eric Adams is making cryptocurrencies a major part of his campaign as the Mayor of New York.
Recently, he has also made a very bold claim that he could allow new Yorkers to receive their payments in cryptocurrencies. More specifically, he wants new Yorkers to have the ability to receive their payments in Bitcoin.
While going to a conference in Puerto Rico, Eric Adams repeated a pledge that he made about cryptocurrencies. He said that he would allow workers in New York to take their paychecks in the cryptocurrency of choice. While this was obviously a brave choice, so far, he has been coming through on the vows that he has been making.
The vow originally came after the Miami Mayor stated that he would be taking his first paycheck in the form of cryptocurrencies. Following the promise that the Miami Mayor made, New York Mayor-elect followed through on the announcement by saying that he would take his first three paychecks in office in crypto. While obviously a jab at the promise the Miami Mayor made, it started a friendly rivalry between the two government officials.
And as both men voiced their ambitions about cryptocurrencies as both an asset and a form of payment, they also served as a challenge to other leaders of American cities.
While at the conference, the mayor elect voiced his concern about how New York is harboring a culture of no. He said that the city has started to turn everything down and that it is afraid of experimenting with new concepts. And with his term as mayor, he is looking to make a difference.