As Canada faces an upcoming election, pro-Bitcoin candidate Pierre Poilievre is attracting support with an estimated 89% chance of winning, according to popular prediction market Polymarket. This comes on the heels of Justin Trudeau’s resignation as Canada’s Prime Minister, making Poilievre a favored potential successor for the post.
The cryptocurrency sector has shown a particular favor towards Poilievre, who regards himself as a proponent of innovation and Bitcoin. His sentiments on inflation and government expenditure draw notable approval from Tesla and SpaceX CEO Elon Musk, who described Poilievre’s stance as “Perfectly articulated.”
Coinbase CEO Brian Armstrong is one among the tech industry leaders who also expressed agreement with Poilievre’s views. David Bailey, CEO of BTC Inc., commended Poilievre’s potential to guide Canada in building a national Bitcoin reserve, likening it to other countries’ reserves of gold and foreign currencies to enhance economic stability and safeguard against inflation.
Poilievre’s advocacy for Bitcoin is a defining aspect of his campaign, having made several pro-Bitcoin public remarks. In a move that recalls US President-elect Donald Trump’s Bitcoin purchase at a New York City bar, Poilievre used Bitcoin to purchase chicken shawarma at an Ontario event. As part of his campaign, Poilievre repeatedly endorsed Bitcoin adoption, painting a picture of a future Canada as a global leader in blockchain technology.
Support for Bitcoin stretches beyond Poilievre’s campaign, extending to Vancouver’s city council, which recently passed a motion to explore holding Bitcoin in reserve and accepting cryptocurrency payments for local services. This initiative, introduced by Mayor Ken Sim, aims to preserve the city’s financial stability, echoing Poilievre’s advocacy for a cryptocurrency-leaning Canada.