Comment on Vancouver Mayor proposes Bitcoin as a reserve asset

Vancouver Mayor proposes Bitcoin as a reserve asset

Ken Sim — the mayor of Vancouver, one of Western Canada’s biggest cities — proposed adding Bitcoin (BTC) to the local government’s reserves. During the Nov. 26 Vancouver City Council meeting, Sim submitted a notice of motion under the title Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city.” As the title suggests, the motion aims to assess Bitcoin’s potential as a way to safeguard the city’s purchasing power amid economic turmoil. The motion itself is not yet available on the government’s website, but it is set to be formally introduced on Dec.

 

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