Updated on:12/21/2025 04:31 PM 
New York City Mayor Eric Adams is having the last laugh as Bitcoin approaches the $100,000 mark, vindicating his controversial decision to receive his first three paychecks in cryptocurrency back in early 2022.
During a December 3 press conference, Adams addressed the criticism he faced for embracing digital currencies, stating that people should not fear Bitcoin or other innovative technologies.
The mayor expressed particular satisfaction with forward-thinking individuals in President-elect Donald Trump's administration, such as Elon Musk, who are willing to challenge conventional wisdom.
When questioned about the returns on his Bitcoin paycheck investment, Adams revealed that the details are included in his annual Conflicts of Interest Board (COIB) report, which requires public officials to disclose their financial holdings.
According to his 2023 COIB filing, Adams reported holding between $5,000 and $54,999.99 in BTC at the market value when the report was filed. With Bitcoin's impressive 130% surge to nearly $100,000, the mayor's cryptocurrency investment could now be worth approximately $110,000.
Beyond cryptocurrency, Adams discussed his broader innovation philosophy during the press conference, addressing artificial intelligence (AI) adoption. He argued that the United States is unnecessarily restraining technological progress due to unfounded fears of criticism.
Under Adams' leadership, New York has maintained a cautiously supportive stance toward cryptocurrency. In January 2022, state legislators introduced a bill permitting government entities to accept Bitcoin as payment, though the legislation specifically excluded commercial transactions.
However, the state's approach has had mixed results. Just months later in June 2022, the New York State Senate approved a bill that could have banned Bitcoin mining operations. Recently, mining company Greenidge successfully challenged regulatory hurdles, winning a legal battle to continue its operations in New York after the state's Department of Environmental Conservation denied its air permit application.
