Eric Adams Proposes First-Ever Bitcoin Bond in NYC

Eric Adams Wants NYC to Embrace Bitcoin with ‘Bitbond’

Eric Adams– New York City Mayor Eric Adams has reaffirmed his commitment to integrating Bitcoin into the city’s financial infrastructure. Speaking at the Bitcoin 2025 conference, Adams proposed creating a municipal bond backed by Bitcoin, often referred to as a “Bitbond.”

A New Financial Instrument for NYC

“We have financial instruments for all other bonds,” Adams said during the event. “It is time for the first time in the history of this city to have a financial instrument that is made for those who are holders of Bitcoin.”

Though specifics on how the proposed Bitbond would function remain unclear, a March 31 policy brief by the Bitcoin Policy Institute offers a potential structure. The model includes a 1% annual interest over ten years, with bondholders also receiving a share of Bitcoin market gains upon maturity. According to the brief, 90% of the funds raised would support government initiatives, while 10% would be allocated to purchasing Bitcoin.

Adams Renews Call to End BitLicense

In addition to his push for Bitcoin bonds, Adams reiterated his opposition to New York’s BitLicense program, introduced in 2015. The program requires crypto firms to obtain a license from the New York Department of Financial Services and comply with rigorous AML and KYC standards.

“You have a mayor who is the crypto mayor, is the Bitcoin mayor,” Adams said. “Let’s get rid of the Bitcoin license and allow us to have the free flow of Bitcoin in our city.”

Attracting Crypto to NYC

Adams is also working to establish a digital advisory council aimed at boosting job creation and investment in the crypto sector. He announced partnerships with firms like Figure, Traction, and Scale to help drive New York City’s blockchain strategy forward.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.