Bitcoin (BTC/USD) – Canadians Can’t ‘Opt Out Of Inflation’ With Bitcoin: Prime Minster Justin Trudeau Lashes Out At Opposition

Bitcoin (BTC/USD) – Canadians Can’t ‘Opt Out Of Inflation’ With Bitcoin: Prime Minster Justin Trudeau Lashes Out At Opposition

  • Bitcoin
  • September 14, 2022
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A current world leader is attacking an opposing 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 minister election.

What Happened: Justin Trudeau has been the 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 the head of the Conservative Party and has been a proponent 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 the handling of spending, COVID-19 pandemic reactions and other areas show Canada’s best interest may not be supported by Poilievre.

“Telling people they can opt out of inflation by investing their savings in volatile cryptocurrencies is not responsible leadership.”

Trudeau added that anyone who followed Poilievre’s advice and invested in Bitcoin “would have seen their life savings destroyed.”

Why It’s Important: Poilievre was elected as the leader of the Conservative Party winning 68% of the party vote. One of his main campaign promises focused on reducing inflation.

The new Conservative Party leader 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 using the cryptocurrency as a hedge against inflation.

“Government is ruining the Canadian dollar, so Canadians should have the freedom to use other money, such as Bitcoin,” Poilievre said in March.

The Conservative Party leader is hoping to make Canada the “blockchain capital of the world.”

Earlier this year, Canada put in place emergency powers that included the ability to seize cryptocurrencies as part of anti-money laundering and terrorist financing rules.

The 2025 prime minister election in Canada could shape up to be one followed around the world as it will see a person for Bitcoin battle a person who is against the cryptocurrency.

BTC Price Action: Bitcoin trades at $20,199.55 at the time of writing.

Related Link: How To Buy Bitcoin 

Photo: Wanderin’ Wolfgang via Flickr Creative Commons

 

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