New York City is making history with plans to launch the world’s first Bitcoin-backed municipal bonds, known as BitBonds. Mayor Eric Adams announced the move during his keynote speech at the Bitcoin 2025 conference in Las Vegas.
Adams said the city will “do everything in its power” to roll out BitBonds as part of its vision to become the global capital of crypto finance. These bonds will be backed by Bitcoin instead of traditional fiat currency, offering a new way for crypto holders to invest in the city’s future.
“It’s time for this city to have a financial instrument built for Bitcoin holders,” Adams said. While it’s unclear if the interest on these bonds will be paid in BTC or fiat, the concept is already gaining attention.
BitBonds are designed to draw more Bitcoin-savvy investors and help NYC keep its position in the developing financial world. Adams set up a Crypto Council to help drive change and direct policy.
The mayor called Bitcoin the “next evolution of money,” tracing the journey from ancient shells to modern digital assets. He believes New York’s bold step will influence other cities and states to follow.
Yet, the city could face difficulties with regulations, especially in getting a BitLicense from New York State’s financial authorities.
Bitcoin has reached a new record high of $111,936, which points to more people, including institutions, wanting to invest in it. NYC is placing a large bet on Bitcoin and its future with BitBonds.
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