Pierre Poilievre, a well-known cryptocurrency supporter who is running for the post of Prime Minister of Canada, has been elected as the new leader of the country’s Conservative Party.
Poilievre is a supporter of cryptocurrencies and has stated that, if elected prime minister, he would work with provincial authorities to untangle the current regulatory web that controls digital assets.
Poilievre decisively won the election after a seven-month campaign, racking up 22,993 of the less than 33,800 polling stations.
The former cabinet minister and longtime member of Ontario’s parliament has a personal financial interest in cryptocurrency, which he endorsed as an inflation hedge during his campaign.
Image: SuperCryptoNews
Poilievre demonstrated his support for cryptocurrencies by buying a sandwich at an Ontario restaurant using Bitcoin, during his leadership campaign.
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On sandwiches and Cryptocurrency
According to political analysts, it was part of a political maneuver aimed at rallying support for his campaign. But, it seems that the shawarma purchase worked in his favor. According to his May 4 disclosure to the federal ethics commissioner, Poilievre’s assets include shares in Purpose Bitcoin, a Canadian exchange-traded fund (ETF) that owns cryptocurrencies.
In March of this year, Poilievre claimed that a Canadian government under his leadership would do more to normalize cryptocurrencies like Bitcoin and Ethereum to “decentralize” the economy and lessen the influence of central bankers.
Poilievre has opposed Bank of Canada policy because, like some conservative economists, he views the government’s ability to print money as a tax.
Canadian Prime Minister Candidate Lobbying for Crypto
“The government is destroying the Canadian dollar, so Canadians should be able to use altcoins like Bitcoin,” Poilievre said.
During the height of the truckers’ protest in February of this year, the Toronto Star reported that Greg Foss, who secured $830,000 in Bitcoin for the demo, frequently spoke with Poilievre about “solid money.”
Meanwhile, a report released by the Bank of Canada last June revealed that the number of Bitcoin holders in Canada tripled between 2020 and 2021.
The central bank has appointed an official to oversee regulatory efforts around stablecoins, while Canada’s Securities Administrators have required all cryptocurrency companies seeking to do business in the country to comply with anti-money laundering regulations. and cybersecurity.
Poilievre won the elections on Saturday with 68% of the votes of party members. If he is elected prime minister, he has promised to help those who can barely make ends meet.
Crypto total market cap at $1.03 trillion on the daily chart | Source: TradingView.com Featured image from Toronto Star, Chart from TradingView.com
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