Another Country Makes a Move for Bitcoin! The First Step Has Been Taken for a Strategic BTC Reserve!

The issue of strategic Bitcoin (BTC) reserves, one of Donald Trump's biggest promises, has begun to be discussed in many countries and cities.

The latest news at this point came from Canada.

Ken Sim, the mayor of Vancouver, Canada’s third largest city, has announced plans to add Bitcoin to the city’s balance sheet in order to diversify the city’s investment portfolio and become a Bitcoin-friendly city.

Mayor Sim submitted a motion titled “Preserving the purchasing power of the city through diversification of financial resources: Becoming a Bitcoin-friendly city” to add Bitcoin as a reserve asset for the city. This motion will be presented to the city council on December 11.

As is known, at the beginning of the week, Brazilian Congressman Eros Biondini introduced a bill proposing the establishment of a national Bitcoin Reserve called RESBit, which could reshape the country's approach to digital assets.

Apart from Brazil, the issue of BTC reserves is also among the hot topics on the agenda in US states. At this point, Satoshi Action Fund (SAF) CEO Dennis Porter said that a Texas lawmaker has started negotiations to present strategic Bitcoin reserve legislation in the future.

Pennsylvania officials also introduced a bill to the state House of Representatives in early November to allocate 10% of the Treasury’s balance sheet to BTC as a hedge against inflation.

*This is not investment advice.