Vancouver Mayor Ken Sim has urged city council to explore integrating Bitcoin into municipal financial strategies, highlighting the cryptocurrency’s potential to enhance financial stability in volatile fiat markets. At the December 11 city council meeting, Sim introduced a motion titled “Preserving the City’s Purchasing Power through Diversification of Financial Reserves – Becoming a Bitcoin-Friendly City.” He believes that Bitcoin has built a "good reputation" over its 16-year history and can serve as a safeguard against inflation and currency devaluation.