Why Canada’s PM candidate Pierre Poilievre is all-in on crypto and DeFi
Is Poilievre the crypto champion Canada needs, and can he succeed where Trudeau struggled?
- Justin Trudeau’s resignation has sparked a political shift, with Pierre Poilievre emerging as a leading contender.
- Poilievre’s pro-crypto stance has gained momentum, aligning with global trends and challenging CBDC policies.
In a stunning turn of events, Justin Trudeau has announced his resignation as Canada’s prime minister, marking the end of an era that began in 2015.
Leading the nation for over a decade, Trudeau cited internal conflicts within his government as the driving force behind this unexpected decision. Speaking during a press conference he said,
“I intend to resign as party leader and as prime minister after the party selects a new leader. I cannot be the one to carry the liberal standard into the next election.”
Justin Trudeau: Not a fan of crypto?
For those unaware, Trudeau’s tenure was marked by a strong anti-crypto stance. He often emphasized the risks associated with digital assets.
He drew major criticism for his handling of economic policies and rising inflation, further fueling skepticism toward his leadership.
In fact, in the past, he has openly criticized Conservative leader Pierre Poilievre’s pro-Bitcoin [BTC] advocacy.
Additionally, Trudeau warned Canadians about the risks of holding Bitcoin amidst inflation, claiming it could erode life savings.
As expected, his approach sparked a backlash from the crypto community. Especially during the 2022 Freedom Convoy protests, his government froze 34 crypto wallets and blocked crypto transactions under the Emergencies Act.
Poilievre could be next in line after Trudeau
Thus, in the wake of Trudeau’s resignation, Poilievre has emerged as a prominent contender for the role of Prime Minister.
Known for his outspoken support of cryptocurrency and decentralized finance (DeFi), Poilievre is positioning himself as a champion of Canada’s pro-crypto audience.
His rise comes at a time when global interest in crypto adoption is surging. Starting with the United States, where Donald Trump has returned as the 47th President.
Reports indicate that Trump’s administration is set to establish a Strategic Bitcoin [BTC] Reserve in the United States, fulfilling a significant promise from his election campaign.
Similarly, global powers, including China, Russia, and Switzerland have also ramped up their efforts to strengthen their positions in the cryptocurrency space.
Hence, Poilievre’s crypto-friendly stance could mark a crucial moment for Canada’s digital asset landscape.
In response, bettors have adjusted their stakes. The odds of Poilievre becoming Canada’s next Prime Minister surged to 92% on Polymarket following Trudeau’s resignation.
While the odds have slightly dipped to 89% as of the latest update, they remain strong, underscoring Poilievre’s likelihood of succeeding Trudeau.
Poilievre’s previous pro-crypto instance
Since his entry into Parliament in 2004, Poilievre has consistently advocated for policies centered on smaller government, economic independence, and personal freedoms.
His vision for Canada’s future is put it best in his campaign slogan,
“Axe the Tax. Build the Homes. Fix the Budget. Stop the Crime.”
