Mayor Ken Sim of Vancouver has proposed exploring the integration of Bitcoin into the city’s financial strategy, including potential investments in Bitcoin reserves and acceptance for municipal payments. This initiative was formally launched by a motion in December 2024 that seeks to diversify the city’s financial reserves through Bitcoin diversification. Driven by his strong advocacy for cryptocurrency, Mayor Sim has personally invested in companies such as Coinbase Global and Purpose Bitcoin ETF, showcasing his commitment. He’s actively promoting Bitcoin adoption within municipal finance through media appearances, industry events, and educational efforts. 3.2 billion USD is currently held in fixed-income assets, with a significant potential impact if these reserves are allocated towards Bitcoin. City staff will conduct a comprehensive analysis and feasibility study by Q1 2025 to evaluate the viability of this proposal. No funds have been earmarked for Bitcoin purchases yet, however, Mayor Sim has pledged to donate $10,000 in Bitcoin to the city regardless of the outcome of the motion. This initiative has drawn attention from the local crypto industry with educational workshops hosted by Sarah Morton at the Virgo Crypto Summit. 2021’s exploration of Bitcoin adoption by Miami and El Salvador’s adoption of Bitcoin as legal tender offer insights into public endorsements for this technology, but are rarely directly reflected in real-world on-chain or financial impacts without final execution. While there is enthusiasm for Bitcoin as a store of value, some council members and observers remain skeptical about its potential implications. The initiative is currently undergoing regulatory review, with no official statements or compliance actions yet from financial regulators. Further updates can be found here.