New York City Mayor Eric Adams – a well-known supporter of cryptocurrency, officially expressed strong support for the concept of “BitBond” at the Bitcoin 2025 conference held in Las Vegas. This is a new financial instrument that combines fixed income and the potential for profit from the appreciation of Bitcoin.
Speaking at the event, Adams emphasized:
“It is time, for the first time in the history of this city, that we need a financial product dedicated to those holding Bitcoin. We need to issue BitBond, and I will work to promote that right here in New York, so investors can participate in the Bitcoin-linked bond market right in this city.”
The idea of BitBond was first introduced by the Bitcoin Policy Institute (BPI) last month. According to BPI's proposal, BitBond is a form of government bond backed by Bitcoin, allowing investors to receive a low fixed interest rate while having the opportunity to benefit from the growth in Bitcoin's value over time.
BPI believes that BitBond is not only a tool to build strategic reserves in Bitcoin but can also help the U.S. government alleviate interest rate pressures from issuing traditional bonds. Additionally, BitBond is expected to help address the long-term fiscal challenges facing the U.S., particularly the issue of refinancing trillions of dollars in public debt in the coming years.
In March, President Donald Trump signed an executive order to establish the U.S. Strategic Bitcoin Reserve and pledged not to auction off approximately 200,000 BTC currently held by federal agencies through criminal and civil seizures. Trump also tasked Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to develop a new Bitcoin accumulation strategy without impacting the budget.
Back in New York, Adams also called for the removal of existing legal barriers to Bitcoin, specifically the BitLicense – a legal requirement that has been controversial for years as it is seen as overly stringent and restrictive to the development of cryptocurrency businesses in the city.
“We need to eliminate the Bitcoin license so that digital currency can flow freely in New York,” he stated.
This is not the first time Eric Adams has publicly supported cryptocurrency. During his campaign, he stated he would take his first three months' salary in Bitcoin. Recently, he also hosted the city's first cryptocurrency conference, demonstrating his determination to make New York a hub for blockchain and crypto innovation in the U.S.
#Newyork #BinanceSquareTalks $TRUMP $BTC
