North America appears to be on the cusp of a historic period for crypto. With Donald Trump as re-elected President of the United States and Pierre Poilievre, an outspoken supporter of Bitcoin, on track to become Canada’s next Prime Minister, the crypto world may receive strong political support.
A pro-crypto politician at the top?
Long before Donald Trump launched his first NFTs, Canadian politician Pierre Poilievre embraced Bitcoin. “The government is destroying the Canadian dollar, so Canadians should have the freedom to use other money, like Bitcoin,” he declared in 2022. That year, Poilievre even paid for shawarma with Bitcoin during a visit to London.
As leader of the Conservative Party of Canada (CPC), Poilievre has been a supporter of financial freedom and less control by governments and banks for years. His popularity increased due to growing dissatisfaction with the policies of Justin Trudeau, who is under fire for failed immigration policies, skyrocketing house prices and economic stagnation.
Position strengthened by trucker protests
Poilievre’s pro-Bitcoin stance came to the fore after the anti-Covid trucker protests in Canada. During these protests, Canadian authorities froze bank accounts and even seized crypto assets from protesters. Poilievre condemned these measures and emphasized that Canada needs more financial freedom.
“Canada needs less financial control for politicians and bankers and more financial freedom for its people. That includes the freedom to own and use crypto, tokens, smart contracts and decentralized finance,” Poilievre said at the time.
A more reserved tone?
It is striking that Poilievre has spoken less emphatically about crypto lately. This is in contrast to Trump, who is increasingly using crypto as a campaign theme. Poilievre’s reluctance could be related to criticism from Prime Minister Trudeau, who accused him of irresponsible financial advice by encouraging Canadians to invest in crypto. There are also critical voices about his position within his own party.
Despite this silence, recent disclosures reveal that Poilievre is still invested in the Purpose Bitcoin ETF, a Canadian spot Bitcoin ETF. This indicates that his belief in Bitcoin remains strong, even if he chooses to express it less publicly.
Historic opportunity for crypto?
With Donald Trump back in the White House and Pierre Poilievre possibly as Canada’s new Prime Minister, North America could be on the threshold of a new era of crypto adoption. These political developments could pave the way for greater adoption of Bitcoin and other digital currencies in both the US and Canada.
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Source: https://newsbit.nl/pierre-poilievre-op-weg-om-canadas-eerste-pro-bitcoin-premier-te-worden/
