NYC Mayor Adams says he’ll ‘push and fight’ for Bitcoin bond in his city

Crypto bull and New York City Mayor Eric Adams is all in the BitBond concept, a novel financial instrument that would allow investors to earn a fixed income and benefit on the appreciation of Bitcoin."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," Adams said while speaking on Wednesday at the Bitcoin 2025 conference in Las Vegas. "We need to have a BitBond, and I am going to push and fight to get a BitBond in New York so you can do those same bond investments in New York City."Crypto think tank Bitcoin Policy Institute last month put forth the idea of creating "BitBonds," which are essentially Bitcoin-enhanced Treasury bonds that might allow investors to both earn income on a low, fixed interest rate in addition to any potential gains tied to Bitcoin's price appreciation.When proposed, BPI suggested that BitBonds could not only help with the implementation of a strategic reserve, but also reduce the interest burden on U.S. Treasury bond payments. BPI also said BitBonds could help the U.S. government address broader fiscal challenges, especially the need to refinance trillions of dollars in debt over the next few years.In March, U.S. President Donald Trump signed an executive order to create a U.S. Strategic Bitcoin Reserve and promised not to auction off the approximate 200,000 BTC already held by federal agencies acquired largely through criminal or civil forfeitures. Trump has also directed Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick to develop budget-neutral strategies for acquiring additional Bitcoin.Adams, who took the stage in Las Vegas not long after Vice President J.D. Vance also spoke at the conference, said he wanted to loosen regulations regarding the flow of Bitcoin in New York City. "Let's get rid of the Bitcoin license and allow us to have the free flow of Bitcoin in our city," he said, referring to the so-called "BitLicense," which critics have argued creates onerous regulatory requirements for financial activities involving crypto.Adams has been an outspoke advocate for crypto. For instance, the mayor promised while on the campaign trail to take his first three paychecks in Bitcoin and earlier this month hosted the city's first "crypto summit."Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.