Vancouver Mayor: Evaluating Converting Part of City's Financial Reserves into Bitcoin

Odaily News Ken Sim, the mayor of Vancouver, Canada, delivered a keynote speech at a recent event, saying that he will continue to promote Vancouver to be a Bitcoin-friendly city. He is currently waiting for a report from city government staff to confirm the integration of digital currency into Vancouver's financial strategy and system, including but not limited to accepting Bitcoin to pay taxes and fees, and converting part of the city's fiscal reserves into Bitcoin to maintain purchasing power and guard against volatility, depreciation and inflationary pressures of traditional currencies.
Odaily Note: Ken Sim, also known as Shen Guanjian in Chinese, was born in Vancouver, Canada. He is a descendant of Hong Kong immigrants and officially took office as the mayor of Vancouver, Canada in November 2022. (PEAK)