The adoption of Bitcoin is spreading, with Vancouver's Mayor Ken Sim aiming to make the city more crypto-friendly.
Vancouver's Bitcoin Plan
During a city council meeting on November 26, Vancouver Mayor Ken Sim expressed his ambition to make the city 'Bitcoin-friendly'. He plans to add Bitcoin into the city’s investment portfolio to diversify assets, though creating a Bitcoin reserve like in the US was not discussed.
Examples from Other Cities and States
Besides Vancouver, several states and cities are implementing Bitcoin or Bitcoin ETF plans. In the United States, institutional investors have acquired $13 billion in Bitcoin ETFs. The State of Wisconsin Investment Board was one of the first to include iShares Bitcoin Trust ETF in their portfolio.
Global Focus on Bitcoin
Earlier this year, Japan's Government Pension Investment Fund expressed interest in adding Bitcoin to its portfolio. This highlights the positive outlook for crypto and shows growing interest from institutional investors.
Bitcoin continues to attract attention from cities and major financial institutions worldwide, highlighting its significance as an investment asset.
