Vancouver Mayor Ken Sim has urged the city council to explore the integration of bitcoin into municipal finance strategies, emphasizing the potential of cryptocurrencies to enhance financial stability in a volatile fiat market. At the Dec. 11 meeting of the city council, Sim introduced a bill entitled "Maintaining the City's Purchasing Power by Diversifying Financial Reserves - Becoming a Bitcoin Friendly City", arguing that Bitcoin has built a "good reputation" over its 16-year history as a safeguard against inflation and currency devaluation.