Could Vancouver's public funds be used for investments in cryptocurrency?
CTV
Vancouver Mayor Ken Sim has apparently expressed interest in cryptocurrency investments.
Vancouver Mayor Ken Sim has apparently expressed interest in cryptocurrency investments.
At Tuesday’s council meeting, Sim announced a notice of motion he'd be presenting Dec. 11 titled, “Preserving the Cities Purchasing Power Through Diversification of Financial Resources Becoming a Bitcoin Friendly City."
When asked for more information Thursday, the mayor’s office said that due to the final motion not being submitted yet, Sim did not have any additional details to share.
While details are scant, it’s being welcomed by some in the industry.
Dustin McNulty, who puts on Bitcoin meet-ups with BTC VanCity, said he spoke with Sim Thursday about the proposal.
“He’s very pro-Bitcoin,” he said. “He wants Vancouver to come on board and be a friendly city to the space.”
McNulty said one of the ideas the mayor has is to purchase Bitcoin using public funds to be held in a reserve fund.
