Bitcoin

The city of Vancouver is gearing up to integrate Bitcoin into its financial reserves, buoyed by the cryptocurrency’s historical breakthrough past $100,000. In an interview on Wednesday, Vancouver Mayor Ken Sim made a bold <a href="https://www.bloomberg.com/news/articles/2024-12-06/vancouver-mayor-proposes-integrating-bitcoin-btc-into-city-finances?utm_content&#61;crypto&amp;utm_source&#61;twitter&amp;utm_medium&#61;social&amp;utm_campaign&#61;socialflow-organic" rel="noopener noreferrer nofollow">statement</a>, acknowledging Bitcoin as the “greatest invention in human history.” He admitted that he has been “orange-pilled”, indicating his solid dedication to the asset.Mayor Sim will present a motion titled “Preserving of the City’s Purchasing Power Through Diversification of Financial Reserves – Becoming A Bitcoin Friendly City” to the council on December 11. The motion proposes to diversify Vancouver’s financial reserve by incorporating <a href="https://cryptotale.org/bitcoin-is-irreplacebale-in-mankinds-history-of-transactions/" rel="noopener noreferrer nofollow">Bitcoin</a> and transforming Vancouver into a Bitcoin-friendly city. Sim stated, “The motion we’re filing doesn&#39;t necessarily say put Bitcoin on the balance sheet. It talks about exploring how we can incorporate Bitcoin into the City of Vancouver but as we all know, it could be a great idea. I’ll just leave it at that.” The Mayor’s Bitcoin proposal posits that integrating the crypto asset into reserves could be a pro-innovation agenda. This means that the move could protect the city’s purchasing power against the volatility and inflationary pressures of the traditional fiat system. Thus, through a diversified investment strategy, Vancouver envisions safeguarding its future finances and maintaining economic stability.<a href="https://cryptotale.org/vancouver-mayor-calls-bitcoin-the-greatest-invention-report/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Vancouver Mayor Calls Bitcoin the Greatest Invention: Report

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