Eric Adams wants to launch a ‘BitBond’ in NYC—says industry must 'move while the Iron is hot'

Eric Adams wants to launch a ‘BitBond’ in NYC—says industry must 'move while the Iron is hot' originally appeared on TheStreet.

New York City Mayor Eric Adams is pushing to create a Bitcoin-based investment vehicle dubbed a BitBond, aimed at letting people invest in the city using crypto—not just cash.

Speaking at a New York City event alongside TheStreet Roundtable host Scott Melker, Adams said the city is exploring how to offer a bond backed by Bitcoin.

“We have a great deal of instruments, financial that allow those who are investing everything from tax-free bonds to other bonds. We want to examine how do we have a bit bond here—to allow those who want to use Bitcoins to do that same level of investments,” he said.

While the city's comptroller opposes the plan, Adams said his office is actively studying workarounds. “Our team is examining now — my OMB, my budget director — to see the formation of that. The current controller is against it, but we think there are ways we can do it to circumvent him because it’s going to take a lot of creativity to bring other people forward in this direction.”

Adams believes fear and lack of education are slowing progress. “The lack of education and understanding of what this universe looks like is making it fearful for people to move forward,” he said. “As though we don’t have fraud and abuse in stocks, in currency, in credit… but we’ve highlighted any misstep and we use it as a way of saying, this is why the industry should not grow. You have to move past that.”

As for the timeline? “We gotta move quickly, we gotta move while the iron is hot,” Adams said, referencing growing national support for Bitcoin policy.

He also called on the crypto community to keep the pressure on. “When you have an executive such as the mayor of the city who’s embracing it, the executive must meet those who are in the industry on the grassroots level—and together we can make it happen.”

Eric Adams wants to launch a ‘BitBond’ in NYC—says industry must 'move while the Iron is hot' first appeared on TheStreet on Jun 24, 2025

This story was originally reported by TheStreet on Jun 24, 2025, where it first appeared.

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