His timing couldn't have been better. Cryptocurrency prices continue to decline with bitcoin dropping to a five-month low Friday at $38,568.18 a share. Etherium, the second largest cryptocurrency after bitcoin, fell more than 12.5%, trading at just below $2,800.

The Democrat's office announced Thursday that Adams' first salary payment will be deposited with Coinbase, an online platform used for buying cryptocurrency, and then converted into ethereum and bitcoin. 

"New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations," Adams said in a statement. "Being on the forefront of such innovation will help us create jobs, improve our economy, and continue to be a magnet for talent from all over the globe."

The city noted in its news release that federal labor rules bar the city from paying employees in cryptocurrency, but that any worker paid in U.S. dollars can use an exchange to buy cryptocurrency.