Vancouver may integrate bitcoin into its financial system

The Vancouver City Council has accepted the mayor's proposal to explore the possibility of implementing Bitcoin into the financial system. This was reported by the portal Forklog.com.

At the end of November, Mayor Ken Sim presented a document about preserving the city's purchasing power through diversification of financial resources: transforming into a bitcoin-friendly city. It is suggested that taxes and fees could be paid using cryptocurrencies, as well as converting part of the city's reserves into this asset.

The document states that the latter measure will help "preserve Vancouver's purchasing power amidst volatility, depreciation, and inflationary pressure from traditional currencies in the interest of taxpayers."

Earlier, it was reported that the price of Bitcoin could reach $250,000 by 2025. This was stated by Tom Lee, co-founder of the analytical firm Fundstrat, during a CNBC broadcast.