Vancouver city government staff recommend that the council revoke the motion "Protect the city's purchasing power through diversified financial reserves — becoming a Bitcoin-friendly city." Staff reports have determined that under the Vancouver Charter, Bitcoin does not qualify as an authorized municipal investment asset, and therefore recommend terminating related efforts and prioritizing resource allocation to other city initiatives. The motion was introduced by Mayor Ken Sim in November 2024, aiming to hedge inflation and volatility by allocating a portion of municipal funds to Bitcoin; it was approved by the council in December 2024, requiring staff to assess feasibility and report in the first quarter of 2025. (The Block)

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