Mayor Eric Adams Commits to Promoting Bitcoin Bonds
According to The Block, New York City Mayor Eric Adams announced at the “Bitcoin 2025 Conference” that he will actively promote an innovative financial instrument called BitBond in New York City. The goal is to create the world’s first bond product that combines fixed-income returns with the appreciation potential of Bitcoin, thereby truly integrating Bitcoin into the mainstream financial system.
In his speech, Eric Adams said:
“This is the first time in New York City’s history that a financial tool has been designed specifically for Bitcoin holders. We need BitBond, and I will fully support bringing this investment bond to life in New York, so investors can benefit from Bitcoin’s appreciation here as well.”
As one of the most prominent crypto advocates in U.S. politics, Adams had previously pledged to receive his first three paychecks in Bitcoin during his campaign. Earlier this month, he hosted New York City’s first-ever Cryptocurrency Summit, emphasizing the city government’s commitment to innovation and Web3.
What Is BitBond?
The BitBond concept was introduced in 2024 by the Bitcoin Policy Institute (BPI), a cryptocurrency policy think tank. It’s a novel bond product that combines the stability of U.S. Treasury yields with the upside potential of Bitcoin. It allows investors to enjoy low-risk fixed interest payments while also sharing in Bitcoin’s price gains.
The structure of BitBond works like this: the issuer uses funds raised from the bond to purchase Bitcoin, creating a correlation between bond performance and Bitcoin price. Investors receive fixed interest payments, and may also earn additional bonuses based on Bitcoin’s price appreciation. However, the issuer bears the risk of Bitcoin price volatility — if BTC drops sharply, the debt repayment burden increases. To manage risk, only a portion of the raised funds may be allocated to Bitcoin, with the rest used to service interest payments or purchase capital-protected assets.
According to BPI, BitBond could serve both as a strategic Bitcoin reserve mechanism for governments and as a way to reduce U.S. Treasury interest burden, offering a strategic solution for refinancing trillions of dollars in national debt. Adams stated that if New York City can be the first to implement BitBond, it will solidify its position as a global leader in both traditional finance and crypto markets.
Calls to Repeal “BitLicense”
In addition to promoting BitBond, Adams also called for the repeal of the BitLicense regime, which has been in place in New York State since 2015. He said:
“Let’s get rid of the Bitcoin license and allow Bitcoin to flow freely in our city.”
BitLicense has long been criticized for stifling innovation, causing many crypto companies to relocate or avoid operating in New York due to regulatory burdens. Adams advocates for lowering the entry barrier and promoting free movement of digital assets, aiming to create a more open and friendly environment for cryptocurrency development.
