🇨🇦 Vancouver’s Mayor Proposes Embracing Bitcoin to Safeguard City’s Finances 🙌
Vancouver Mayor Ken Sim has introduced a motion titled “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city.” This proposal aims to explore adding Bitcoin as a reserve asset to diversify the city’s financial resources and protect against economic volatility. 
Key Details:
• 📅 Council Review Date: December 11, 2024
• 💡 Objective: Assess the potential of Bitcoin to enhance financial stability and purchasing power
This initiative aligns with a broader trend of governmental bodies considering cryptocurrency integration into financial strategies. Notably, U.S. lawmakers have proposed similar measures, reflecting growing institutional interest in digital assets. 
Vancouver has a history of crypto innovation, being home to the world’s first Bitcoin ATM and a vibrant community of businesses accepting digital currencies. 
Market Context:
Bitcoin’s current price is approximately $94,874, with a slight decrease of 1.28% over the past 24 hours.
