Vancouver Staff Say Bitcoin Cannot Be Held in City Reserves

Vancouver city staff, led by Colin Knight, have determined that Bitcoin (BTC) is not an "allowable investment" for the municipality under the Vancouver Charter. Consequently, they recommended that the city council drop the proposal to create a Bitcoin reserve, which was originally introduced by Mayor Ken Sim in late 2024 to hedge against inflation.

The initial motion, passed by the council with a majority vote, cited Bitcoin's fixed supply as a potential hedge against inflation and currency debasement. However, the staff report suggests merging the motion with other initiatives, with a final council vote scheduled for March 10.

The argument for Bitcoin as an inflation hedge has been complicated by the cryptocurrency's recent sharp price decline, falling significantly from its 2025 peak, although some analysts remain bullish on its long-term prospects relative to gold.

(Source：Cointelegraph)