Canada’s main opposition party – the Conservative Party – has elected Pierre Poilievre as its new leader. The 43-year-old politician has interestingly alluded that he is a keen supporter of bitcoin and a strong critic of the country’s central bank, which has allegedly worsened inflation in the country.
Earlier this year, many Canadian residents protested against the government’s pandemic restrictions. To quell the uproar, Justin Trudeau’s administration instructed financial institutions and domestic cryptocurrency exchanges to freeze their accounts and wallets. Numerous proponents of the digital asset industry including Pierre Poilievre heavily criticized the move.
The Conservative Party leadership elections held over the weekend determined that Pierre Poilievre replaced Erin O’Toole as its leader. He won 68% of the votes, while Jean Charest came second with 16%. The election results mean that Pierre Poilievre will become the Prime Minister of Canada should the Conservative Party win the upcoming elections in 2025.
Apart from all the reforms he is proposing in different sectors, he seems determined to promote and develop Canada’s cryptocurrency industry. In March this year, Poilievre proved he is a fan of bitcoin by paying for a snack in the primary digital asset. Few weeks later, he donated $100 worth of BTC to the British Columbia Society for the Prevention of Cruelty to Animals. He also vowed to remove taxes on cryptocurrency donations if he becomes Prime Minister.
Lastly, he was part of the widespread protests against Justin Trudeau’s COVID-19 restrictions. At the beginning of the year, the current administration ordered all cross-border truck drivers to be subject to mandatory vaccine and quarantine rules. As expected, the truck drivers blocked main roads and bridges in some of Canada’s biggest cities in defiance of the rule.
Trudeau’s decision to freeze bank accounts and virtual assets belonging to leaders of Canada’s anti-vaccine movement caused additional unrest. Several cryptocurrency proponents, including Pierre Poilievre, condemned the decision, stating that bitcoin and altcoins represents financial freedom and the government does not have the right to sanction the employment of digital assets.
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