CoinVoice has recently learned that, according to Cointelegraph, Ken Sim, who has been serving as the mayor of Vancouver since 2022, announced that the city of Vancouver plans to add Bitcoin to its balance sheet as part of its investment diversification efforts.
At the Vancouver City Council meeting held on November 26, Mayor Sim submitted a motion notice, which is scheduled to be presented on December 11, titled 'Maintaining the City’s Purchasing Power through Financial Resource Diversification: Becoming a Bitcoin-Friendly City.' As of November 27, the motion does not appear to have been published on the city government's website, and the Vancouver Mayor's office declined to comment.
It is currently unclear whether the mayor of Vancouver's motion is a response to local and federal government considerations in the United States regarding legislation to establish Bitcoin reserves. After the 2024 elections, legislators in both the Pennsylvania House of Representatives and the U.S. Senate have proposed plans for the government to hold Bitcoin as a reserve asset. [Original link]
