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Pierre Poilievre vs Trudeau Canada Bitcoin Reserve

Bitcoin Reserve Might Be Established By Potential Next Canadian PM, Expert Suggests

Jake Simmons
by Jake Simmons
8 months ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

According to several reports, Canadian Prime Minister Justin Trudeau may soon step down, potentially opening the door for a more Bitcoin-friendly government. According to Reuters, Trudeau is “increasingly likely to announce he intends to step down,” although no final decision has been made. A source familiar with the matter told the news agency that the decision could come as early as Monday, noting that Trudeau’s departure would leave the ruling Liberal Party without a permanent leader ahead of a looming election deadline.

Why Canada Could Turn Pro-Bitcoin

Trudeau’s rumored exit coincides with polls signaling a notable decline in Liberal support. According to CBC News’ Poll Tracker, the official opposition Conservatives led by Pierre Poilievre have built a commanding 23% lead, with projected 44% of the vote going to them if an election were held today. Notably, Poilievre has voiced pro-Bitcoin sentiments in the past and might usher in policies more welcoming of digital assets.

Related Reading: Strategic Bitcoin Reserve Proposed By Multiple Chilean Lawmakers

BTC Inc CEO David Bailey, who was instrumental in “orange pilling” US President-elect Donald Trump’s, has fueled the rumors, stating via X today that “Pierre Poilievre will deliver Canada a Strategic Bitcoin Reserve.”

Pierre Poilievre Bitcoin Reserve
Source: X

Bailey and other experts on X note that this echoes Trump’s own plans: during his campaign at the Bitcoin 2024 Conference, he spoke of establishing a “national stockpile” for seized BTC and even floated the idea of paying off the US national debt with BTC.

Poilievre’s history with BTC advocacy is well documented. He once argued that Bitcoin could enable Canadians to “opt out of inflation,” at a time when 1 BTC hovered around $40,000. Since then, the the BTC price has surged, reaching a high of over $108,000 at one point a – 170% surge. Poilievre famously showcased his support for Bitcoin by purchasing shawarma with Bitcoin in March 2022, quipping that “you’ll never believe how [a shop owner] outsmarted government to beat inflation. Today, I’m buying lunch from him—and bringing my Bitcoin wallet.”

Related Reading: Is Bitcoin Price At Risk Of A Drop To $78,000? This Pattern Suggests So

He also posted via X in April 2022: “The Bank Of Canada says Bitcoin-ers lack financial literacy. This from the same people who promised we’d have “deflation” right before inflation hit a 30 year high. It is our central bank that is financially illiterate,” as well as “Money-printing deficits make our wages “go up in smoke”. #JustinFlation. We need sound money again—and also the freedom for buyers and sellers to choose Bitcoin and other technology.”

Despite BTC’s strong performance, Poilievre faced criticism from the Liberal Party and other political adversaries. Critics labeled his stance a political wedge issue, prompting him to go relatively quiet on the matter.

However, in a November 2024 speech, Poilievre argued that Canadians “should be free to decide whether or not they want to use Bitcoin,” adding that he had no desire to “ban Bitcoin” like some other nations. He has also been a vocal opponent of Central Bank Digital Currencies, once stating emphatically, “There will be NO Central Bank Digital Currency.”

While no official plans or policies have been confirmed, the possibility of a BTC reserve appears closer than ever for Canada. If Trudeau does step down and Poilievre becomes the next prime minister, many in the BTC sphere believe Canada could follow in the footsteps of emerging pro-BTC policymakers on the global stage.

At press time, BTC traded at $99,318.

Bitcoin price
BTC is approaching $100,000, 4-hour chart | Source: BTCUSDT on TradingView.com
Featured image from YouTube, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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