Bitcoin

A growing number of US mayors want to be paid in Bitcoin

Growing Number of US Mayors Want to Be Paid in Bitcoin

A growing number of American mayors want to receive their salaries in bitcoin. According to the mayor of Miami, he will accept his entire salary in cryptocurrency. Two other mayors will convert their paychecks into bitcoin. The mayor-elect for New York City will receive his first three paychecks as crypto.

More Mayors of US Cities Ask to Be Paid in Bitcoin

A growing number of U.S. mayors want to receive their next paychecks in bitcoin. At the time this article was written, at least three mayors have indicated that they would accept bitcoin as their next paychecks.

The first mayor to say that he will be paid in bitcoin is the mayor of Miami, Florida, Francis Suarez, who tweeted Tuesday, “I’m going to take my next paycheck 100% in bitcoin.”

Responding to Suarez’s tweet, the mayor-elect of New York City, Eric Adams, tweeted that he will take his first three paychecks in bitcoin when he takes office as mayor of NYC.

Following Adams’ tweet, Suarez said in an interview with Fox Business that he will not just take his next paycheck in bitcoin but will take his entire salary in BTC. According to the mayor of Miami, the CIO of the city was the first person to take a percentage in bitcoin.

I am going to be employee number two … I will be taking 100% of my salary in bitcoin.

” We are not going to force it on anyone,” stressed the mayor. It will be entirely optional. We want our employees have that option. But it is not something we are going force on them. Understanding that this is an individual decision that they must make .”

, it is not something that we can force.

Suarez was recently re-elected mayor of Miami. He has been trying to build his city into the crypto capital of the world.

Two mayors have stated that they would like to be paid in Bitcoin.

Mayor Scott Conger of the city of Jackson, TN, who is also trying to build his city into a bitcoin hub, tweeted Thursday:

While state law prohibits the city of Jackson, TN, from paying me in bitcoin, I’ll follow the lead of [Miami Mayor] Francis Suarez & [NYC Mayor-elect] Eric Adams and instantly convert my next paycheck to bitcoin.

The mayor of Tampa, Florida is another mayor who would like to be paid in bitcoin. WTSP, a CBS affiliate television station, reported Friday that Tampa is seeking to become a hub for cryptocurrency. The mayor of Tampa wants to prove she is.

Mayor Jane Castor suggested that she receive her paychecks in bitcoin during Friday’s Bitcoin and Blockchain Summit. A spokesperson for the mayor, Lauren Rozyla, then said the mayor has agreed to accept two paychecks in BTC. She is not sure how exactly it will work. The spokesperson said that it could involve her receiving regular money and then investing in bitcoin immediately.

Do you think mayors of U.S. cities should be paid in bitcoin? Comment below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services in this article.

Bitcoin

Bitcoin Demand Shows Signs of Cooling as Whale and ETF Purchases Halve: Cryptoquant

Bitcoin demand growth is decelerating after a rally toward $112,000, with key indicators signaling a potential slowdown phase, according to a new Cryptoquant Institutional Insights report. Profit-Taking Dominates Futures Market Amid Bitcoin Slowdown Cryptoquant’s analysis reveals bitcoin spot demand continues expanding but at a sharply reduced pace…
Read More

Bitcoin

Bitcoin Price Watch: Bulls Eye $108K as Momentum Builds Across Lower Timeframes

Bitcoin is trading at $105,971 to $106,032 over the last hour, with a market capitalization of $2.10 trillion and a 24-hour trading volume of $21.88 billion. During the past 24 hours, the price has fluctuated between $104,004 and $106,450, reflecting a narrow intraday range that coincides with ongoing technical indecision across broader timeframes…
Read More

Bitcoin

XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”