Vancouver Mayor Proposes Bitcoin As A Reserve Asset

Radek Zielinski, ReadWriteWeb
Thu, 11/28/2024 - 9:40am

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.

Topics: ken sim western canada s nov vancouver city council preserving as dec sim s a better city april we city hall whether ai economics gdp october international monetary fund imf urged el salvador to imf julie kozack btc united states president-elect donald j trump wyoming republican senator cynthia lummis u.s federal reserve system brazilian congressman eros biondini brazil s vancouver mayor readwrite sim vancouver bitcoin el salvador imf these country adoption motion billion proposed plans government title time create limit financial started technology power data purchasing election

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Vancouver Mayor Proposes Bitcoin As A Reserve Asset

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