COMP NEWS – The New York City mayor-elect joined a few other prominent figures in his open support of crypto, claiming that he is going to take his first three paychecks in Bitcoin and that NYC is set to become a major hub for cryptocurrencies.

Two days after winning the mayoral race, the Brooklyn Democrat used Twitter to announce how he will be paid initially as a public servant. Adams tweeted his three-paycheck crypto gambit after reading a tweet from Miami Mayor Francis Suarez, who said he plans to accept one paycheck in bitcoin. 

 

“In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!” said Adams on Twitter.

These mayors join a few others who also receive a portion of their compensation in the form of cryptocurrency. Among these are Jason Les (CEO of bitcoin mining company Riot Blockchain), Odell Beckham, Jr. (Los Angeles Rams football player), and Aaron Rodgers (Green Bay Packers quarterback).

Jason Les, CEO of bitcoin mining company Riot Blockchain, accepts part of his $240,000 salary in 10 bitcoin, marking him one of few crypto executives who eat their own company’s cooking by getting paid in digital currencies rather than old-fashioned greenbacks. 

Los Angeles Rams football player Odell Beckham, Jr. said he is taking part of his salary as bitcoin by using the Cash app. Green Bay Packers quarterback Aaron Rodgers said Monday he believes in bitcoin and will take some of his NFL pay in bitcoin.

Cryptocurrency compensation is still in its beginning stages, as even those “paid” in crypto are really paid in USD that they convert to crypto on receipt. Still, as prominent figures announce their belief in crypto and desire for it to make up a portion of their compensation, others may follow suit.

You can read more about Eric Adams’ comments here.

For more Comp News, see our recent posts.