With Canadian Prime Minister Justin Trudeau’s announced departure, eyes turn to the likely successor and opposition leader, Pierre Poilievre, who’s demonstrated a track record of crypto endorsements. Notably, Poilievre made a public commitment to transform Canada into the global hub of cryptocurrency and blockchain technology during a campaign gathering in March 2022.
In the said event, Poilievre used Bitcoin for a food purchase and openly criticized the central bank system along with the existing crypto regulations in Canada. He expressed his belief in the potential of Bitcoin to shield Canadians from inflation. This view, however, landed him under criticism from the Liberal Party, particularly when the crypto world experienced a significant dip during 2023.
Leading the Conservative Party since 2022 with a high probability of scoring a majority win, according to CBC News polls, Poilievre’s crypto-friendly stances have been consistent. From voicing support for a bill against a central bank digital currency to advocating for consumers’ rights to choose Bitcoin, he’s been vocal about his views, even labeling the Bank of Canada as “financially illiterate.”
Yet, it’s worth noting that by November 2023, it was found that Poilievre no longer held stakes in the Purpose Bitcoin exchange-traded fund (ETF), which was disclosed in his asset declaration forms in May 2022.
As Trudeau plans to relinquish his position following the election of a new leader in line with the controversial tariff moves by Donald Trump and internal party issues, it puts Poilievre in a promising position. The upcoming federal election, due by October 20, will decide who secures a majority rule by earning a minimum of 172 seats out of the available 343 in the House of Commons.