NYC Mayor Eric Adams Taunts Critics, Celebrates Bitcoin Gains

New York City Mayor Eric Adams has seemingly mocked reporters in a recent interview over previous comments regarding his Bitcoin holdings.

On December 3, Adams addressed the press after an event at the American LGBTQ+ Museum. During the interview, a reporter asked if Adams was looking forward to working with Tesla and SpaceX CEO Elon Musk.

Adams expressed enthusiasm about the prospect of collaborating with Musk before shifting the conversation to his receipt of Bitcoin while in office. Adams emphasized that people “should not be afraid of Bitcoin,” his statement was followed by what seemed to be a mocking tone aimed at reporters and attendees.

“Remember y’all laughed at me when I first got my Bitcoin. Who’s laughing now?” he said. When Eric Adams assumed office as Mayor of New York City in 2022, he announced that he would receive his first three paychecks in Bitcoin. At the time, the price of Bitcoin was approximately $61,000.

Adams’ decision to receive his paychecks in Bitcoin was a direct response to a social media challenge that called on elected officials to earn a crypto-based salary.

In 2021, Miami Mayor Francis Suarez, after securing reelection, made headlines by announcing he would accept his first paycheck in Bitcoin. In response, Adams raised the stakes by declaring he would receive the first three of his paychecks in the cryptocurrency.

Since Adams’ announcement, the price of Bitcoin has risen to roughly $96,000, reflecting a significant increase of around 57%.

In 2022, Adams criticized a state law passed that imposes a two-year moratorium on proof-of-work mining operations using non-renewable energy sources. The legislation has been a point of contention for Adams, who has consistently advocated for policies that support technological innovation and the growth of the digital economy.

Eric Adams was indicted on September 2024 for multiple corruption charges by federal authorities. The indictment alleges that he conspired to receive illegal campaign contributions from foreign nationals, including Turkish officials, and committed wire fraud and bribery.

If convicted on all counts, Adams could face a lengthy prison sentence.

Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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