After the registration announcement of Canadian Prime Minister Justin Trudeau, the focus now turns to opposition leader Pierre Poilievre. Poilievre was known for his optimistic views on cryptocurrency and had earlier promised to turn Canada into the "crypto capital of the world."
Poilievre’s Vision for Canada’s Crypto Future
Pierre Poilievre, in March 2022, became a news sensation in the political world as he openly supported cryptocurrency. He purchased a shawarma at a campaign event using Bitcoin; this was just one symbolic move in holding cryptocurrency for himself, but he also made a very ambitious plan to turn Canada into the "blockchain and crypto capital of the world." This captured the imagination of all kinds of crypto enthusiasts, investors, and regular Canadians.
Poilievre thinks blockchain technology and cryptocurrencies, for example, Bitcoin, could give Canadians an alternative to the traditional finance system. He repeatedly questioned the system of central banking under Canada's government regarding cryptocurrency, calling it limiting and outdated.
Poilievre's support for Crypto and Its Political Consequences
The pro-crypto rhetoric did not stop with these campaign promises. In 2022, social media platforms like X (formerly Twitter) were used by him to provide continuous support for freedom in the crypto space. He supported the right for Canadians to trade cryptocurrencies without government interference. His vision is to grow Canada's economy while promoting technological innovation.
However, when the value of cryptocurrency went down in 2023, the electoral parties, especially the Liberal Party, criticised Poilievre for his views on digital currencies. Critics feel that people promoting cryptocurrencies expose Canadians to considerable financial risks, given that the market had become highly unstable during the past years. Despite these criticisms, Poilievre remains firm in his position, insisting that cryptocurrencies represent the future of finance.
Pierre Poilievre’s Political Rise And Future Look
After becoming the head of the Conservative Party since January 2024 and will most likely become the next prime minister of Canada. Recent conclusions have shown that he and his party are ahead of the ruling Liberals and stand a very good chance of winning the upcoming election. He has been quite popular in Canada due to his support for cryptocurrency and his conservative views.
He has also criticized the Bank of Canada, calling its policies "financially illiterate." He's promised to stop the creation of a central bank digital currency (CBDC) and protect Canadians' ability to use cash. This stance further strengthens his position as a pro-crypto leader.
Conclusion
Pierre Poilievre is a strong crypto supporter, and being the leader of the Conservative Party benefits him in shaping Canada's digital economy. His promise to make Canada the "crypto capital of the world" and his criticism of the central banking system urge Canadians who want more freedom in managing their finances. As Canada enters a transition period in terms of politics, Poilievre's sentiments on cryptocurrency would likely be well-represented in the electoral processes. If Canada is eventually going to join the crypto brigade, under him, digital finance will be heavily represented as part of his country's future.
