Vancouver Mayor Pushes Bitcoin As Reserve Asset In Bold Financial Plan

Vancouver is the latest city to join the discussions on adding Bitcoin to the government’s financial reserves. At a city council meeting on November 26th, Mayor Ken Sim submitted his notice of motion, where he plans to introduce his proposed Bitcoin bill on December 11th. Related Reading: Is Bitcoin Suriname’s Future? Presidential Candidate Makes Bold […]

Nov 29, 2024 - 13:00

Vancouver Mayor Pushes Bitcoin As Reserve Asset In Bold Financial Plan

Vancouver is the latest city to join the discussions on adding Bitcoin to the government’s financial reserves. At a city council meeting on November 26th, Mayor Ken Sim submitted his notice of motion, where he plans to introduce his proposed Bitcoin bill on December 11th.

The city’s proposal is titled ” Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city. ” It aims to integrate Bitcoin into the city’s financial system and make Vancouver a “Bitcoin-friendly city,” using Bitcoin as a hedge against inflation and promoting economic development.

Vancouver Makes A Move Towards BTC Adoption

Vancouver Mayor Ken Sim is taking the necessary steps to prepare the city for the blockchain. As a Bitcoin supporter, Sim is pushing for widespread adoption to hedge against inflation and promote economic development. In a November 27th meeting, Mayor Sim filed a motion of notice detailing his plan to present the proposal to adopt Bitcoin on December 11th.