- Eric Adams unveiled Bitcoin-backed municipal bonds plan.
- Bitcoin to back NYC’s municipal debt.
- No specific financial details revealed yet.
NYC Mayor Eric Adams announced at the Bitcoin 2025 Conference in Las Vegas a proposal to issue the city’s first Bitcoin-backed municipal bonds.
The initiative represents a shift towards integrating digital assets in NYC’s public finance, attracting attention from the global crypto community.
Eric Adams, known as NYC’s “crypto Mayor,” is advocating for a Bitcoin-backed municipal bond, dubbed “Bit Bond.” This was announced during his speech at a major conference. His push aligns with efforts to rejuvenate the city’s crypto sector. Adams calls for the repeal of BitLicense as part of a broader strategy to foster a more crypto-friendly regulatory environment in New York.
This move positions Bitcoin (BTC) as a focal point for municipal financial instruments, although specific dollar amounts and institutional details remain undisclosed. The impact on the Bitcoin market is primarily speculative as investors await further announcements.
It’s 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. I believe we need to have a Bit Bond and I am going to push and fight to get a Bit Bond in New York. – Eric Adams, Mayor of New York City
If successful, the Bit Bond might pave the way for similar instruments in other municipalities, marking a significant milestone in the American public finance landscape’s digital evolution. Such developments could potentially influence regulatory policies and drive innovation in integrating blockchain technology. Analysts highlight the potential for redefining public finance through technological integration, as New York embarks on exploring blockchain for public sector applications. As historical trends indicate, previous BTC-related debt schemes laid groundwork for public sector digital asset adoption.
