๐ก๐ฌ๐ ๐ ๐ฎ๐๐ผ๐ฟ ๐๐ฟ๐ถ๐ฐ ๐๐ฑ๐ฎ๐บ๐ ๐ช๐ฎ๐ป๐๐ ๐ฎ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป โ๐๐ถ๐๐๐ผ๐ป๐ฑโ โ ๐๐๐ ๐๐ฎ๐ฐ๐ฒ๐ ๐ฃ๐๐๐ต๐ฏ๐ฎ๐ฐ๐ธ
๐จ NYC may soon offer Bitcoin-backed city bonds.
Mayor Eric Adams has announced plans to explore a โBitBondโ โ a way for investors to support New York City using Bitcoin instead of just dollars.
โWe want to allow those who use Bitcoin to invest in NYC the same way they do with traditional bonds,โ Adams said.
But thereโs a problem.
๐ NYCโs comptroller opposes the idea โ but Adams says his team is actively looking for workarounds to make it happen.
He believes that fear and lack of education are holding the crypto space back.
โWe highlight cryptoโs missteps while ignoring fraud in stocks, banks, and fiat,โ Adams said. โWe must move fast โ while the iron is hot.โ
๐ง Adams' budget team is now studying how a Bitcoin bond could be structured despite legal resistance.
He also called on the crypto community to support his efforts:
โWhen a mayor supports crypto, the industry must meet him halfway. Together, we can make this happen.โ