His first paycheck was worth $9,925 in January this year, but following the respective dips of 20 and 29% in the price of bitcoin and Ethereum, his salary would now be worth $7,416, assuming equal proportions of bitcoin and ethereum.
“People who look at bitcoin and say, ‘OK, it’s dropped.’ Well, what stocks have not dropped?” Adams questioned in a recent interview with the Financial Times.
“I will note, for the record, that it’s not my only salary,” he said to a Davos panel.
Both Adams and Suarez have been trying to attract crypto enthusiasts and talents to their respective cities, with Adams saying, “Bitcoin is here to stay, and the bulk of investment is here in New York City.” Suarez has pitched South Florida to crypto miners and hopes to make Miami tax-free through MiamiCoin, a city-backed cryptocurrency that can be mined using a home computer.
At the same time, Jacksonville Jaguars’ quarterback Trevor Lawrence decided to take his $22.6M signing bonus in cryptocurrency, which would have dropped to $9.8 million at current crypto prices.
Mark Freebairn, who is the team lead for the hiring of chief financial officers at an executive talent search company Odgers Berndtson in London, said while crypto was hot, it made sense to receive your salary in bitcoin.