Cryptocurrency advocate becomes head of the Conservative Party of Canada

Pierre Poilievre intends to stop the development of CBDC and make the country “the blockchain capital of the world”

12.09.2022 - 10:10

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What’s new? Pierre Poilievre, a Canadian politician and bitcoin advocate, was elected head of the local Conservative Party with 68% of the vote, well ahead of rival Jean Charest with 16%. In 2025, Poilievre plans to run for Prime Minister of Canada. CoinDesk reports about this.

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What is known about Poilievre’s views? Politician has repeatedly spoken out in favor of bitcoin. According to his statements, the government “is ruining the Canadian dollar,” hence citizens should have the freedom to use other money such as bitcoin. Poilievre also promised that he would fire the head of the central bank, audit the institution’s activities, and stop the development of a central bank digital currency if he became prime minister. In addition, Poilievre plans to make the country “the blockchain capital of the world.”

During the spring election campaign, the politician became famous for buying a shawarma for bitcoin at Tahini’s restaurant in London. Poilievre is also known to hold a position of at least $10 000 in a Canadian exchange-traded fund (ETF) Purpose Bitcoin.

Earlier, the Bank of Canada released a report noting the increased number of citizens owning bitcoins. In 2021, the figure almost tripled to 13% of the country’s total population. A year earlier, this figure was only 5%. The average volume of BTC accumulated is 500 Canadian dollars ($393). The first cryptocurrency is most often used for investments and less often as a means of payment.

At the end of August, a group of crypto investors sued the Argentine presidential candidate. The plaintiffs accused Javier Milei of promoting the CoinX platform, which ceased operations without returning investments and the promised income to customers.

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