Vancouver Mayor Ken Sim is charting an ambitious path to make the city more Bitcoin-friendly, proposing to include the cryptocurrency as part of its financial strategy. The mayor’s initiative aims to diversify Vancouver’s investments by adding Bitcoin to its balance sheet, a groundbreaking move for a Canadian municipality.

At a city council meeting on Nov. 26, Mayor Sim announced his intention to present a motion on Dec. 11 titled “Preserving the city’s purchasing power through diversification of financial resources: Becoming a Bitcoin-friendly city.” While the official motion is not yet accessible on the city’s website, its implications could signal a major shift in how Vancouver approaches fiscal management.

Bitcoin advocate Jeff Booth hinted during a Nov. 26 X Spaces discussion that Sim’s motion seeks to establish Bitcoin as a reserve asset for Vancouver. However, the mayor’s office has yet to comment on these plans, leaving questions about the motion’s specifics and its potential to gain council approval.

This proposal follows a growing trend among governments exploring Bitcoin as a reserve asset. Recent U.S. discussions, such as those in Pennsylvania’s House of Representatives and the Senate, suggest a broader governmental interest in cryptocurrency reserves.

Sim’s Bitcoin advocacy is not new. During his 2022 mayoral campaign, his political party accepted cryptocurrency donations, demonstrating a commitment to embracing innovative financial technologies. A recent interview also revealed The Bitcoin Standard by Saifedean Ammous prominently displayed in his office, a book often cited to promote Bitcoin adoption.

Whether this motion succeeds remains uncertain, but Sim’s initiative underscores Vancouver’s potential role as a pioneer in municipal cryptocurrency adoption, paving the way for broader acceptance across Canada.