protos.com
A large number of Bitcoin influencers are backing a leading candidate for Canadian prime minister. Pierre Poilievre, a pro-bitcoin candidate, might assume Justin Trudeau’s seat as soon as this year.
Trudeau stepped down as prime minister this week and Poilievre quickly emerged as an early front-runner to take over the position. Polymarket, a binary options website that doesn’t necessarily indicate real-world odds like traditional polls, accepts crypto-denominated bets at an 89% rate in favor of Poilievre succeeding Trudeau as Canada’s next leader.
Kalshi, another binary options prediction market, gives Poilievre a far lower 14% chance, instead listing Mark Carney as traders’ favorite at a 40% betting rate. Poilievre has nicknamed his rival “Carbon Tax Carney.”
Poilievre has so far earned endorsements from MicroStrategy’s Michael Saylor, Galaxy Research’s Alex Thorn, Bull Bitcoin’s Francis Pouliot, and various other bitcoin influencers.
Read more: Canada gang charged for smuggling weed in maple syrup barrels for crypto
Will Poilievre bring bitcoin into Canada’s government?
Poilievre has used traditional Bitcoiner talking points in much of his political rhetoric, accusing the Canadian government of money-printing and ruining the Canadian dollar. He has also advocated for new laws and rules that would allow Canadians easier use of bitcoin.
Some people believe he will also advocate for a Canadian strategic bitcoin reserve.
Beyond bitcoin, Poilievre has promised a friendlier regulatory environment for digital assets and blockchain technologies in general. This includes, he says, working with provinces and territories to create a unified regulatory framework for securities regulation.
Regulating securities and exchanges had previously been left up to the provinces, resulting in what Poilievre called a “cobweb of contradictory rules.”
During an interview, he blamed Trudeau for inflation in Canada, saying, “This guy prints $600 billion and grows our money supply by 32% in three years. That’s growing our money three times faster than the economy. No wonder we have the worst inflation in four decades.”
Poilievre subsequently promised to tame inflation and support hard money standards like bitcoin.
X owner Elon Musk has endorsed Poilievre and posted a TikTok video of Poilievre talking to working-class Canadians. In the video, Poilievre reiterated the importance of reducing government spending and said inflation, interest rates, and high taxes are symptoms of government overspending.