|
The
salary will be converted to ethereum and bitcoin, the statement
added.
The mayor last year said he would take his first three paychecks
in bitcoin and signaled his intention to make his city the
"center of the cryptocurrency industry".
“New York is the center of the world, and we want it to be the
center of cryptocurrency and other financial innovations,” Adams
said in a statement.
Coinbase Global operates an exchange that enables people to buy
and sell cryptocurrencies.
Despite their rising popularity among retail and professional
investors, cryptocurrencies, including bitcoin and ethereum,
have struggled to go mainstream due in part to their frequent
fluctuations in value.
Both Bitcoin and ethereum notched record-high values in
November, only to see those values plummet leading up the new
year. On Jan. 10, Bitcoin fell more than 5%, tumbling under the
$40,000 level for the first time since September. In late
morning trading on Thursday, a bitcoin was worth $43,309 and
ethereum was at $3,250.
After his election in November, Adams also suggested that New
York schools teach courses on cryptocurrency and blockchain
technology, and, following a similar pledge from Miami Mayor
Francis Suarez, promised to convert his first three paychecks to
bitcoin.
Adams converting his first paycheck to cryptocurrency “provides
a leading example” of how New York City can “empower people
through tech with a more diverse set of options to manage their
finances,” New York City Chief Technology Officer Matt Fraser
said in a statement.
Although Adams has yet to propose specific policies that would
make New York a cryptocurrency hub, digital asset enthusiasts
have called his embrace of bitcoin encouraging, and believe his
stance could attract more digital asset start-ups to New York.
(Reporting by Mrinmay Dey in Bengaluru and Hannah Lang in
Washington; Editing by Chizu Nomiyama and Jonathan Oatis)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
