Mayor Adams Proposes Bitcoin Investment Vehicle Amidst Crypto Policy Debate

New York City Mayor Eric Adams is advocating for a transformative approach to cryptocurrency in the city. He has criticized former Governor Andrew Cuomo's stance on digital assets, deeming it misguided.

Adams plans to establish a city council focused on crypto policies and aims to educate residents about digital currencies in schools. A key initiative he proposes is the creation of a ‘BitBond,’ a Bitcoin-based investment vehicle designed to attract investment into the city.

Despite opposition from the city’s comptroller, Adams is eager to navigate challenges to realize this vision. He believes that Bitcoin can address shortcomings in traditional finance, particularly for marginalized communities.

By taking his paychecks in Bitcoin, he emphasizes his commitment to integrating cryptocurrency into city services. As the Democratic primary approaches, the election outcomes may significantly influence the future of crypto policies in New York, with rising candidates like Zohran Kwame Mamdani gaining traction in prediction markets.