Key Takeaways
- Eric Adams took his first three paychecks in Bitcoin in 2022.
- Bitcoin's price has surged 129% to nearly $97,000 in 2024.
- Adams' Bitcoin holdings were worth between $5,000 and $54,999 in 2023.
New York City Mayor Eric Adams, who famously took his first three paychecks in Bitcoin, is reveling in his decision as the cryptocurrency soars.
Adams said during a press conference Tuesday:
Remember y’all laughed at me when I first got my Bitcoin. Who’s laughing now?
Adams received approximately $30,000 in Bitcoin and Ether upon taking office in January 2022. Despite his refusal to disclose current holdings, financial records from 2023 estimate his Bitcoin stash was worth between $5,000 and $54,999. Bitcoin’s dramatic rise this year—up 129% to nearly $97,000—has vindicated Adams’ controversial decision.
The mayor also reminded reporters of the criticism he faced at the time:
You all mock me. ‘You’re taking your first three paychecks in Bitcoin. What’s wrong with you?’ Now you wish you would have done it.
Other leaders follow suit
Adams isn’t alone in embracing Bitcoin paychecks. Miami Mayor Francis Suarez and Belgian MP Christophe De Beukelaer have also opted to receive payments in the digital currency. Their reactions to the recent surge remain unclear.
Market performance
Bitcoin continues to climb, now trading at $96,518, while Ether has risen 63% this year to $3,721.
