Canada’s New Opposition Leader Is A Bitcoinist

The Conservative Party, Canada’s primary opposition party, has elected Pierre Poilievre as its new leader. Interestingly, the 43-year-old lawmaker has demonstrated that he is a strong supporter of Bitcoin and a critic of the central bank, which has supposedly deteriorated the country’s inflationary climate.

Pierre Poilievre, a Canadian politician and noted crypto champion, has taken the helm of Canada’s Conservative Party, which is poised to give the current administration a run for its money in the next federal election.

The pro-crypto politician reportedly won the Conservative Party of Canada leadership in a landslide victory on Saturday, garnering 68.15% of the electoral points available and considerably outperforming his nearest opponent Jean Charest, who garnered only 16.07% of the vote.

Thousands of Canadians opposed the government’s pandemic restrictions earlier this year. To combat the turmoil, Justin Trudeau’s administration instructed financial institutions to freeze their bank accounts, as well as domestic Bitcoin exchanges. Many supporters of the digital asset sector, like Pierre Poilievre, opposed the action.

Apart from the several reforms he wishes to do, he appears motivated to promote and develop the cryptocurrency sector in the North American country. Poilievre expressed his support for bitcoin by paying for shawarma with the principal digital asset in March of this year.

Poilievre earlier this year urged Canadians to vote for him as their leader in order to “make Canada the blockchain capital of the world.”

He gave $100 in BTC to the British Columbia Society for the Prevention of Cruelty to Animals a few weeks later. Furthermore, if elected Prime Minister, he has promised to abolish taxes on cryptocurrency donations.

In March, the YouTube channel BITCOIN broadcast a video of Poilievre at a Tahini Restaurant during his leadership election campaign discussing his support for cryptocurrency, saying: “We must keep cryptocurrencies legal.”

Poilievre is also a critic of Canada’s central bank, arguing that its contentious practices are one of the causes of the country’s high inflation. He went on to suggest that alternatives, such as Bitcoin, are desperately needed during the current instability.

The Bank of Canada (BoC) recently announced its desire to develop a central bank digital currency (CBDC). The new Conservative Party leader opposed the plan, calling it “risky” since it could harm people’s financial well-being.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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