Crypto Is the New Battleground for U.S. Politicians, Which U.S. City Will Become the Crypto Capital?

Bhushan Akolkar
November 6, 2021
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U.S. politicians have started embracing digital currencies at an increasing rate as the digital asset industry emerges as the new battleground for swaying audiences. Over the last week, four U.S. city mayors have announced accepting their paychecks in Bitcoin.

It started with Miami mayor Francis Suarez announcing that he would be accepting his next paycheck 100% in Bitcoin. Eric Adams, the mayor-elect for New York City followed suit by raising the bar further and announcing that he would be taking his first three paychecks in Bitcoin.

Following them further has been Scott Conger, the mayor of the City of Jackson (TN). In a tweet on Thursday, Conger said that although the city laws prohibit him from accepting Bitcoins directly, he will instantly convert his next paycheck into BTC instantly.

As the crypto landscape evolves, it is clear that politicians in these regions are taking steps to sway crypto industries to this space.

The Next Crypto Capital In the U.S.

There’s a sudden surge in the demand for crypto talent as jobs in this industry are picking up fast. Citing the Linked In data, Bloomberg reports that New York, San Francisco and Los Angeles have the largest share in crypto-related hiring this year in 2021. This is further followed by metropolitan areas like Miami and Chicago.

Courtesy: Bloomberg

Interestingly, the industry isn’t getting concentrated into a single hub like finance in New York, tech in San Francisco and movies in Hollywood. Diogo Monica, co-founder of Anchorage Digital told Bloomberg:

“Crypto companies are an extreme version of tech, where the ethos of their work is about being decentralized. This means cities and states with lower taxes, great infrastructure, and quick access to an international airport will benefit from fully remote work.”

Miami Mayor Francis Suarez has often spoken of making the city the crypto capital of the world. He believes that different parts of the U.S. will naturally have a competitive advantage.“The medium to long-term prospects are enormous,” Suarez said. “It’s as transformational as the Industrial Revolution was.”

Crypto mining businesses have been moving to regions of surplus availability of green energy. On the other hand, crypto exchanges are setting up their base in the urban regions. It will be interesting to see as to which U.S. city will emerge as the crypto capital going ahead.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.