Criticizes Vancouver's Bitcoin Strategy
This is a Vancouver news story, published by vancouversun, that relates primarily to Ken Sim news.
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cryptocurrency proponentsvancouversun
•Should Vancouver be 'Bitcoin friendly'? Crypto critic Frank Giustra says move would be 'reckless and stupid'
68% Informative
Mayor Ken Sim recently put a motion forward, suggesting staff research whether Vancouver could become “bitcoin friendly,” or hold some of its financial reserves in the cryptocurrency.
Bitcoin has been in the spotlight in recent months as it has soared in value, reaching a new high of $ 105,987 US as of Monday .
It would not be legal for a B.C. municipality to put any reserves, which are typically held for specific capital projects, into bitcoin.
“It’s an asset in search of a purpose and has no tangible anything to it,” Giustra said.
“I don’t think the council would move ahead if city staff thought it was a bad idea, Vogel added.
I think it's just a review of proper capital treasury management and taking it into the current century ”.
VR Score
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Informative language
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Neutral language
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Article tone
informal
Language
English
Language complexity
55
Offensive language
possibly offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
10
Source diversity
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