This sounded like fake news initially (no April 1st Fools Day on the horizon), so international readers rushed to Google-News it, and the headline popped up from multiple sources. Mayor-elect Eric Adams announced that he intended to take his first three paychecks as New York City mayor in cryptocurrency. Adams made the announcement in response to a tweet by Miami Mayor Francis Suarez. Suarez’s tweet came in the morning of Election Day, but Adams didn’t make his declaration until Thursday afternoon.

Sure the repercussions were huge. Reddit users rushed with comments like “If you know anything about BTC you might think this is a smart move. Considering he just holds into it the value of those three paychecks could go up five or tenfold. This also serves a political agenda if he was one concerning crypto.” But skeptics were opposed by the truth seekers: “It’s more of a signal to the Crypto community, crypto hedge funds and Wall Street that he’s going to try to be favorable to laws for them.” and “He doesn’t have to convert it if he has some money and just wants to have some bitcoin. Bitcoin is the single best wealth-savings vehicle of our generation. Besides all that, more and more shops are starting to use Lightning Network to transact in Bitcoin.”

We all know how great the power of Reddit communities is. The power that is capable of disrupting the market seniors’ shorting bets against certain stocks, don’t we?

Adams has also doubled down on his plans to turn New York into a «hub for the cryptocurrency industry» after taking office in January. The clear statement of political support for the cryptocurrency came in response to an earlier tweet from Anthony Pompliano, an entrepreneur and investor, who is known to be a Bitcoin advocate.

In his turn, Miami Mayor Francis Suarez, re-elected last week, responded to a tweet that he plans to receive his next paycheck in Bitcoin as well. This prompted Adams to respond by uplifting his Republican counterpart, «We always make great strides in New York, so I’m going to get my first THREE bitcoin salaries when I become mayor.»

The race to become the first U.S. politician to accept their salary in crypto is evidence of the rivalry between cities to become the leading cryptocurrency hubs in the U.S.

In an interview with Bloomberg, Adams promised to look at what is holding back the city’s Bitcoin and cryptocurrency growth. » He also indicated that he plans to follow in Suarez’s footsteps and create a product that resembles MiamiCoin.

Nevertheless, more and more companies announce they pay their employees with crypto. That includes, but is not limited to:

GMO Internet Group

GMO Internet Group, which focuses on developing internet infrastructure, online advertising, media, internet finance, and cryptocurrencies, declared that its employees would start receiving payments in Bitcoin. This initiative was taken to develop and promote cryptocurrencies. The offer was available for 4000 employees in the Japan headquarters of GMO.

IM

Currently known as OpenWeb, Spot.IM declares its goal as democratizing and improving conversations online. The platform uses AI and machine learning to promote healthy dialogue, decrease toxicity, and improve engagement among different communities.

The company has opened its own cryptocurrency exchange where the monthly salaries of all employees are converted to BTC and sent to the employees’ digital wallets. It considers the average of the highest and the lowest Bitcoin prices on the day of the transfer so that market volatility does not affect the payments.

SC5

SC5 is a Finnish internet technology company that develops applications, software, and offers other related services. The company performs technical evaluations and migration assessments. It also creates and implements concepts and solutions from ideation to post-analysis. SC5 started paying its employees in Bitcoin long back in 2013.

Purse.io

Founded in 2014, Purse.io is a website that provides its users with unused Amazon gift cards and also allows its users to buy products from Amazon on crypto. Purse.io pays its employees in Bitcoin Cash. This service aims to make crypto more useful. The wallet allows its users to name their discounts while shopping for any product on Amazon. It connects shoppers who wish to exchange their Amazon gift cards for Bitcoin.

Of course, these companies are just the tip of the permanently growing iceberg.

As a reminder, users use Stacks, smart contracts, and a Bitcoin-powered application layer to mine MiamiCoin, with 30% of the proceeds going back to the city to fund various municipal projects. The remaining 70% of the income can be earmarked as Bitcoin rewards.