New York City Mayor Eric Adams recently addressed attendees at the groundbreaking ceremony for the American LGBTQ+ Museum, boasting about his Bitcoin holdings. Adams, who began accepting his wages in Bitcoin after his election in 2022, noted that the cryptocurrency's value has increased significantly since he first announced his decision. Initially, Bitcoin was priced around $61,000, but it has surged to approximately $96,000, reflecting a 57% rise. During his comments, Adams suggested that critics who once laughed at his choice to accept paychecks in Bitcoin are now regretting their skepticism. Meanwhile, he is facing serious legal challenges, including wire fraud and conspiracy charges, which could lead to a lengthy prison sentence if convicted. Despite these issues, Adams has continued to advocate for policies promoting digital assets and aims to solidify New York City's role in the crypto industry, including a controversial moratorium on proof-of-work mining with non-renewable energy sources.

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