NYC Trolls Adams For Getting Paid In Bitcoin As Market Crashes

NEW YORK, NY — Whether Mayor Eric Adams losing $1,000 over the weekend by converting his paycheck into cryptocurrency is a bad thing all depends on how you look at it, according to New Yorkers.

"A lot of people saying this is 'bad' for eric adams, but you just don't understand crypto," journalist David Grossman joked about the mayor converting his paycheck before a market downturn. "When bitcoin crashes, the price goes down, allowing you to buy more crypto. problem solved!"

Grossman was one of many New Yorkers who trolled the mayor for getting his first check in Bitcoin and Ethereum on Friday, fulfilling his campaign promise to take his first three payments in cryptocurrency.

Bloomberg estimates the move lost Adams around $1,000 through Monday given losses totaling $350 billion in cryptocurrencies over the weekend.

"if you're sad that the crypto market is crashing just remember that eric adams' first paycheck will be in bitcoin :))," one New Yorker wrote.

Another made their thoughts known simply with a gif of cash being flushed down the toilet.

Even before the market crash, New Yorkers didn't seem impressed.

"Does he think it's magic? or hard? Anyone can do that," one person wrote.

"Next week Amazon stock?" joked another.

Still, even Adams himself didn't seem too pessimistic about the losses. When asked on CNN if he regrets the decision, the mayor contended it wasn't about the money.

"When you're a long-term investor you don't keep your eyes on your portfolio you buy low and hopefully you get the recovery that you desire," he said. "The purpose of the bitcoin is to send a message that New York city is open to technology...and encourage our young people to be engaged in these new emerging markets."