Vancouver Mayor Ken Sim has proposed using Bitcoin as a reserve asset as part of the city's strategy to diversify its financial resources and protect its purchasing power. At a November 26 City Council meeting, Sim announced plans to present the proposal to council on December 11. Bitcoin advocate Jeff Booth stated that this initiative aims to make Vancouver a Bitcoin-friendly city. However, it remains to be seen whether the proposal will receive enough support in parliament.
The political party led by Ken Sim accepted crypto donations during the election campaign and promised to evaluate the use of cryptocurrency. Sim, who has rarely spoken publicly on these issues during his mayoralty, confirmed in a recent interview that he has a book in his office advocating the economic potential of Bitcoin. While it is not clear whether this initiative is linked to the Bitcoin reserve debate in the US, it signals a step forward in Vancouver's digital economy strategies.
