Bitcoin (BTC/USD) – Canadians Can’t ‘Opt Out Inflation’ With Bitcoin: Prime Minister Justin Trudeau Hits Out At Opposition
A current world leader is attacking a rival candidate for his views on Bitcoin and cryptocurrency. Here’s the latest on the world of Canadian politics and how cryptocurrency ideals could play a role in the 2025 prime ministerial election.
What happened: Justin Trudeau has been Prime Minister of Canada since 2015, winning elections in 2015, 2019 and a special election in 2021. Trudeau, who has led the Liberal Party since 2013, will face opposition from the Conservative Party in the 2025 election.
Pierre Poilievre is leader of the Conservative Party and has been a promoter of cryptocurrencies such as Bitcoin BTC/USD with calls for Canadians to invest in the sector to avoid inflation.
Trudeau attacked Poilievre in a speech earlier this week, as reported by Decrypt.
“Attacking the institutions that make our society fair, safe and free is not responsible leadership,” Trudeau said.
The current prime minister argued that his opponent’s attacks on the government for its handling of spending, the COVID-19 pandemic response and other areas show that Canada’s best interests may not be supported by Poilievre.
“Telling people they can opt out of inflation by investing their savings in volatile cryptocurrencies is not responsible management.”
Trudeau added that anyone who followed Poilievre’s advice and invested in Bitcoin “would have seen their savings destroyed.”
Why it’s important: Poilievre was elected leader of the Conservative Party, winning 68% of the party’s vote. One of his main campaign promises focused on reducing inflation.
The new leader of the Conservative Party has appeared on several Bitcoin podcasts and made his stance on the leading cryptocurrency well known.
The fixed supply of Bitcoin (21 million coins) is a key point for Poilievre in his campaign to tighten fiscal policy and use the cryptocurrency as a hedge against inflation.
“The government is destroying the Canadian dollar, so Canadians should have the freedom to use other money, such as Bitcoin,” Poilievre said in March.
The Conservative Party leader hopes to make Canada the “blockchain capital of the world.”
Earlier this year, Canada introduced emergency powers that included the ability to seize cryptocurrencies as part of anti-money laundering and anti-terrorist financing rules.
The 2025 Canadian Prime Ministerial election could be shaping up to be watched worldwide as it will see a person for Bitcoin fighting against a person who is against the cryptocurrency.
BTC Price Action: Bitcoin is trading at $20,199.55 at the time of writing.
Related Link: How to Buy Bitcoin
Photo: Wanderin’ Wolfgang via Flickr Creative Commons
