Pierre Poilievre, the leader of Canada’s Conservative Party, has emerged as a strong advocate for cryptocurrencies and decentralized finance (DeFi) platforms. Poilievre’s views present a stark contrast to the more cautious approach of his predecessor, Justin Trudeau, and come at a time when the Conservative leader is perceived as a leading candidate for the Prime Minister’s office following Trudeau’s resignation.
In February 2022, Poilievre appeared on a cryptocurrency-focused podcast hosted by Bitcoin enthusiast Robert Breedlove, known for his controversial comparisons between central banking policies and historical atrocities. During the podcast, Poilievre revealed that he and his wife often tune into Breedlove’s crypto-centric YouTube channel. He admitted to finding the content “extremely informative,” noting that it had significantly expanded their understanding of Bitcoin and broader monetary issues.
Demonstrating his commitment to the crypto space, Poilievre invested in the Purpose Bitcoin ETF in 2022. While his current holdings are not disclosed, his political platform includes the creation of favorable regulatory conditions for blockchain companies. He also advocates for treating crypto assets like commodities for taxation purposes, as reported by CTV News.
The Conservative leader has also been a vocal critic of central bank digital currencies (CBDCs), backing Bill C-400 to regulate CBDCs while championing the rights of Canadians to utilize Bitcoin and other digital assets. In a 2022 statement, he argued that government mismanagement was undermining the Canadian dollar, suggesting that Canadians should have the freedom to use alternative forms of money, like Bitcoin.
“Canada needs less financial control for politicians and bankers, and more financial freedom for the people. That includes freedom to own and use crypto, tokens, smart contracts, and decentralized finance,” Poilievre said.
Predictions regarding Poilievre’s electoral prospects vary considerably across different platforms. Polymarket suggests an 89% probability of a Poilievre victory, while other prediction platforms like Kalshi project lower odds.
This crypto-friendly stance marks a significant shift from Trudeau’s more conservative approach, which included banning certain crypto wallets associated with protests. Since his entry into Parliament in 2004, Poilievre has consistently championed reduced government intervention and increased economic independence. His vision for Canada involves the possibility for citizens to opt-out of inflation through the use of cryptocurrencies.
Poilievre’s stance offers an intriguing insight into the potential future of Canada’s monetary policy. As the political landscape continues to evolve, the role of cryptocurrencies in shaping the country’s financial future will undoubtedly remain a topic of keen interest.
