risky and unnecessary. He argues that the volatility of cryptocurrencies like Bitcoin make them too unpredictable and unstable to be used as a form of payment in a city like Vancouver. Additionally, he believes that the potential for fraud and illegal activities associated with cryptocurrency make it a risky choice for businesses and consumers. Instead, Giustra suggests that Vancouver should focus on promoting more traditional forms of payment that are widely accepted and regulated.
oin makes it secure from government interference and inflation, while critics like Giustra point to its volatility and lack of intrinsic value as reasons to be cautious.
In conclusion, while Mayor Ken Sim’s motion to research the possibility of Vancouver becoming ‘Bitcoin friendly’ has sparked a debate, critics like Frank Giustra warn against the risks of investing taxpayer money in such a volatile asset. As the city staff continue their research on this matter, it remains to be seen whether Vancouver will take a leap into the world of cryptocurrency. And, as always, it’s important to weigh the pros and cons before making any financial decisions.
