Canada’s New Conservative Party Leader Is a Crypto Proponent


The main opposition party in Canada – the Conservative Party – elected Pierre Poilievre as its new leader. Interestingly, the 43-year-old politician has displayed he is a keen supporter of bitcoin and a critic of the central bank, which allegedly worsened the inflationary environment in the country.

Earlier this year, thousands of Canadians protested against the government’s pandemic restrictions. To fight the unrest, Justin Trudeau’s administration requested financial institutions to freeze their bank accounts and asked domestic cryptocurrency exchanges to do the same. Numerous proponents of the digital asset sector criticized the move, and one of them was Pierre Poilievre.

Canada’s Next Possible PM Likes Crypto

The Conservative Party leadership elections held during the weekend determined that Pierre Poilievre replaced Erin O’Toole on the wheel of the political group. He won around 68% of the votes, while Jean Charest was second with 16%. The changes at the top mean that Pierre Poilievre might become the new Prime Minister of Canada should the Conservative Party wins the upcoming elections in 2025.

Apart from all the reforms he wants to enforce in numerous sectors, he seems determined to promote and develop the cryptocurrency sector in the North American nation. In March this year, Poilievre demonstrated he is a fan of bitcoin by paying for shawarma in the primary digital asset.

Pierre Poilievre, Source: CP24

A few weeks later, he donated $100 in BTC to the British Columbia Society for the Prevention of Cruelty to Animals. Moreover, he vowed to remove taxes on crypto donations should he become a Prime Minister.

Last but not least, he took part in the massive protests against Justin Trudeau’s COVID-19 restrictions. At the beginning of 2022, the government ordered all cross-border truck drivers to be subject to mandatory vaccine and quarantine requirements. Somewhat expectedly, the trucking industry opposed the rule and blocked main roads and bridges in some of Canada’s biggest cities.

What caused additional unrest was Trudeau’s decision to freeze bank accounts and digital assets belonging to leaders of Canada’s anti-vaccine movement. Several cryptocurrency proponents, including Pierre Poilievre, condemned the directive, saying that bitcoin and the altcoins represent people’s financial freedom and the government does not have the right to block the employment of such coins.

Against the Central Bank

Poilievre is also a critic of Canada’s central bank, claiming that its controversial policies are one of the reasons for the record inflation reigning in the country. He went further, saying that alternatives, such as bitcoin, are much needed during the current turmoil.

Not long ago, the Bank of Canada (BoC) displayed its intentions to launch a central bank digital currency (CBDC). The new leader of the Conservative Party didn’t support the idea, describing it as “risky” because it could worsen people’s financial well-being.

Featured Image Courtesy of CBC

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