Ken Sim, the mayor of Vancouver, has announced plans to explore Bitcoin as part of the city’s financial strategy, including the possibility of adding it to the city’s reserves.
At a November 26th city council meeting, Sim introduced a motion titled “Preserving of the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city,” set to be formally presented on December 11th.
As of November 27th, the specifics of the proposal had not been published on the city’s website.
Bitcoin advocate Jeff Booth discussed the motion during a November 26th X Spaces, describing it as a proposal to adopt Bitcoin as a reserve asset. Mayor Sim’s office has not commented on the motion.
The proposal comes as some U.S. lawmakers have suggested holding Bitcoin as a reserve asset.
Legislators in Pennsylvania and the U.S. Senate recently raised similar ideas, signaling a broader interest in Bitcoin among governments.
During his 2022 campaign, Sim’s political party, A Better City, accepted Bitcoin and cryptocurrency donations to showcase its focus on technology.
Since taking office, however, Sim has rarely addressed Bitcoin-related policies.
In a November 25th Global News interview, a copy of The Bitcoin Standard by Saifedean Ammous, often cited by Bitcoiners, was visible in Sim’s office.
While the book is influential in Bitcoin-related discussions, its presence does not confirm specific policy intentions.
It remains unclear whether the motion will gain sufficient support in the city council.
Sim has emphasized his administration’s progress on campaign promises, stating that over 70% of his outlined goals have been completed, but the reception to this proposal remains uncertain.