Favorite To Replace Justin Trudeau As Canada PM Wants To Make Country ”Crypto Capital”

The frontrunner to replace Justin Trudeau as Canada’s prime minister once promised to make the country a ”crypto capital.”

A March 2022 video shows that man, opposition leader Pierre Poilievre, buying food with Bitcoin and promising to devise a plan to “enable Canada to become the blockchain and crypto capital of the world.”

Trudeau announced his plan to resign yesterday, saying he will step down after the ruling Liberal Party elects a new leader.

Canadian Bitcoin

Bitcoin Could Help Canada “Opt Out” Of Inflation

During a speech at the campaign event, the frontrunner attacked the central banking system and Canada’s crypto regulations. He added that Bitcoin could provide Canada with a way to “opt out” of inflation. These comments were then criticized in a series of Liberal Party attack ads in late 2023 after the crypto space’s market cap underwent a steep correction.

In 2022, Poilievre made additional pro-crypto comments on X. In the posts, the PM frontrunner promised to give buyers and sellers the freedom to choose Bitcoin and other technology. He also critiqued the Bank of Canada for being “financially illiterate,” while vowing to prevent the creation of a “risky central bank digital currency.”

Just last year, he expressed support on X for a bill to ban a central bank digital currency and protect the use of cash.

Justin Trudeau Faced No Confidence Motion

Trudeau announced his resignation after he was hit with a no-confidence motion slated for later this month. 

Members of the Liberal Party are currently embroiled in an internal conflict due to the outgoing PM’s handling of the country’s deficit and growing concerns of how Trudeau would have dealt with the trade tariffs promised by US President-elect Donald Trump.

A federal election will need to be decided either on or before Oct. 20. The winning prime minister will also need to get 172 out of the 343 available seats in the House of Commons to secure the majority government.

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