BitBonds: New York City To Launch World’s First Bitcoin-Backed Municipal Bonds

As the Bitcoin 2025 conference unfolds in Las Vegas, New York City Mayor Eric Adams has announced that the city will issue Bitcoin-backed financial instruments. Specifically, Adams says he will do everything in his power to launch BitBonds in New York, cementing the city’s place in the global financial renaissance.

New York Targets BitBonds To Attract Investors

NYC Mayor Eric Adams says the city will be the first to launch Bitcoin-backed municipal bonds for investors. Adams unveiled the plans in a keynote address at the Bitcoin 2025 summit, sharing plans for a wave of financial instruments backed by Bitcoin.

Dubbed BitBonds, the NYC mayor says the incoming financial instrument will cater to a growing investor demographic in the city. Adams confirmed that BitBonds will become the go-to financial tool for Bitcoin holders in New York City.

If rolled out, New York’s BitBonds will rely on Bitcoin as collateral or backing rather than fiat. At this point, it remains unclear whether or not the municipal bond will pay interest in BTC or fiat.

“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,” said Adams. “I believe we need to have a Bitbond.”

As part of his commitment to transforming NYC into the cryptocurrency capital of the world, Adams has recently unveiled a Crypto Council for the city.

Adams Says Bitcoin Is The Next Evolution Of Money

Meanwhile, in his keynote address, Adams emphasised that Bitcoin is the next evolution of money. He traced the history of currency from the use of shells in 12,000 BC to coins and eventually paper notes.

The NYC mayor argues that the financial ecosystem is ready for its next evolution, and New York will be at the vanguard with BitBonds. Adams has publicly endorsed Bitcoin, famously accepting his salaries in BTC back in 2021.

Furthermore, Adams believes New York’s embrace of cryptocurrency will trigger a cascading effect throughout the U.S. However, the requirement for a BitLicense from the state’s financial regulator could pose a hurdle for NYC’s BitBond ambitions.

In his speech, Adams cited Bitcoin’s growing market value as evidence of its utility in financial applications. Notably, Bitcoin set a new ATH of $111,970 this month in a rally driven by institutional and retail purchases.