From Bitcoin Transactions to Blockchain Ambitions: Poilievre Crypto Strategy
The resignation of Canadian Prime Minister Justin Trudeau has brought attention to Pierre Poilievre, the front-runner for the role and head of the opposition, who previously pledged to turn Canada into a crypto capital. During a campaign event in March 2022, a video of which was recently made public online, Poilievre used Bitcoin to buy a chicken shawarma and pledged to implement a plan that would make Canada the global hub for blockchain and cryptocurrency.
He also criticized Canada’s crypto laws and the country’s central banking system in a speech at the event. However, his claims that Bitcoin could enable Canadians to opt out of inflation led to him being attacked in ads by the Liberal Party in late 2023 after the cryptocurrency market crashed.
Canada Prepares for Leadership Shift: Could Bitcoin Shape Canada’s Financial Future?
Poilievre has been the leader of the Conservative Party since 2022. Other pro-crypto remarks made by Poilievre include X postings from 2022 that promised customers and sellers the ability to select Bitcoin and other technologies. In addition, he has referred to the Bank of Canada as financially ignorant and promised to prevent it from creating a dangerous digital currency. He most recently posted on X in April 2024 to support a law that would safeguard the use of cash and forbid the use of digital currency issued by a central bank.
On the other hand, on January 6, Trudeau announced that he would step down as prime minister and leader of the Liberal Party and that he would do so as soon as a successor was identified. An imminent motion of no confidence, fueled by internal party strife over his management of the country’s deficit, put increasing pressure on Canada’s departing prime minister. His capacity to handle a slew of tariffs that incoming US President Donald Trump had promised also raised concerns. As a result, the Liberals are expected to vote on a new leader on March 24, when Parliament is halted.
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