Vancouver mayor proposes adopting bitcoin to fight inflation

Vancouver Mayor Ken Sim has urged the city council to explore the integration of bitcoin into municipal finance strategies, emphasizing the potential of cryptocurrencies to enhance financial stability in a volatile fiat market.
At the Dec. 11 meeting of the city council, Sim introduced a bill entitled "Maintaining the City's Purchasing Power by Diversifying Financial Reserves - Becoming a Bitcoin Friendly City", arguing that Bitcoin has built a "good reputation" over its 16-year history as a safeguard against inflation and currency devaluation.