Mayor Ken Sim urges Vancouver to explore Bitcoin adoption, highlighting its potential to safeguard financial stability amid fiat inflation.
Vancouver Mayor Ken Sim has urged the city council to explore the integration of Bitcoin into municipal financial strategies, emphasizing the cryptocurrency’s potential to bolster financial stability amid volatile fiat markets.
During a city council meeting on Dec. 11, Sim introduced a motion titled “Preserving of the City’s Purchasing Power Through Diversification of Financial Reserves – Becoming A Bitcoin Friendly City.” He argued that Bitcoin (BTC) has built a “solid reputation” over its 16-year history and could serve as a safeguard against inflation and currency devaluation.
The initiative aligns with Sim’s history of supporting cryptocurrency adoption. In 2022, he accepted crypto donations during his mayoral campaign, signaling his openness to leveraging digital assets for public benefit.
