Long before U.S. President Donald Trump was launching memecoins, Conservative Party of Canada (CPC) leader Pierre Poilievre was buying shawarmas with bitcoin (BTC) and pledging to “make Canada the blockchain capital of the world.”
The 45-year-old Member of Parliament (MP) rose to prominence after outgoing prime minister Justin Trudeau fell out of favor with disgruntled Canucks who bemoaned the country’s broken immigration system, skyrocketing home prices, and a dismal economy – issues that have won Trudeau the unenviable title of “Canada’s worst prime minister.”
And now with Trump being inaugurated today, and Poilievre looking to clinch Canada’s top job sometime this year, the United States and Canada could find themselves on the verge of an unprecedented crypto renaissance if both countries elect pro-crypto administrations.
“Government is ruining the Canadian dollar, so Canadians should have the freedom to use other money, such as bitcoin,” Poilievre remarked during a 2022 public appearance.
Poilievre said this after Canada’s historic anti-Covid trucker protests that prompted the Trudeau administration to freeze bank accounts and seize crypto assets from peaceful, law-abiding protestors in an effort to quell the demonstrations.
“Canada needs less financial control for politicians and bankers and more financial freedom for the people,” Poilievre would later say. “That includes freedom to own and use crypto, tokens, smart contracts and decentralized finance.”
(Pierre Poilievre buys shawarma with bitcoin in 2022 / @TheRealTahinis)
But lately, unlike Trump, who has gone full throttle with crypto – from minting non-fungible tokens (NFTs), speaking at the 2024 Bitcoin Conference, and most recently, launching his own memecoin – Poilievre appears to have quietly withdrawn from the crypto scene.
Perhaps it was the shot he took from his archnemesis Trudeau who scolded Poilievre for being irresponsible because he was advising Canadians to invest in crypto.
“Telling people they can opt out of inflation by investing in cryptocurrencies is not responsible leadership,” Trudeau said.
Even other conservatives decried Poilievre’s financial advice. But despite being mum on crypto ever since, his most recent public asset disclosure report still shows him holding Purpose Bitcoin – a Canadian spot bitcoin exchange-traded fund (ETF) – above the $10,000 CAD disclosure threshold.
Today, during his inauguration speech, Trump was also conspicuously silent on crypto issues, but at this juncture, it’s apparent that both politicians are bullish on the emerging asset class.
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