New York City is embracing Bitcoin as a significant aspect of its financial landscape, led by Mayor Eric Adams' advocacy. Since the introduction of Bitcoin ETFs, major institutions have increased their crypto offerings, showcasing a shift towards digital assets. Adams, who has publicly supported Bitcoin, received paychecks in Bitcoin to signify this commitment. He envisions Bitcoin as a tool for economic accessibility, aiming to allow residents to use it for utility payments, thus integrating it more into daily financial transactions.
"When I became mayor, I knew I had a role to be both substantive and symbolic. The symbolism came with me taking my first three paychecks in Bitcoin..."
"Bitcoin creates opportunities for those who have been historically overlooked by Wall Street... We want to start allowing people to pay their utilities bills through Bitcoin."
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