Poilievre’s courageous bitcoin stand

Pierre Poilievre recently won the Conservative leadership election by a landslide. His extremely pro Bitcoin stance is likely to bring him much bad press in the lead-up to his election fight to replace system favourite Justin Trudeau.

Election landslide result

Following a 7-month campaign, Pierre Poilievre became the new Canadian Conservative party leader, defeating the competition by polling 68% of the vote. His closest rival only managed to secure 16% of the vote.

Poilievre is now ready to take the reins of power from Justin Trudeau who is likely to go for an earlier election given that he could avoid having to answer for his use of the Emergencies Act to put down a peaceful protest by Canadian truckers.

Freedom from government

The new opposition leader has put himself firmly in the pro-bitcoin camp, and at the same time he condemns how the world’s central banks print money “out of thin air” which he blames for the soaring inflation that is laying waste to the purchasing power of fiat currencies.

The fact that Poilievre ran on a leadership campaign of freedom from government, and won by such a wide margin is very telling indeed. He espouses freedom of choice for the people and believes that they should be allowed to invest in and use bitcoin if they should wish.

Many politicians, even in his own party, have counselled him to avoid what they feel is the thorny issue of Bitcoin, but to his credit Poilievre has never wavered from his view, and even though this might be something the opposition can seize upon in order to derail his election bid, he is not fazed. Be that as it may though, standby for a backlash from the banking-led system.

The real battle begins

Dominic LeBlanc, Liberal MP and cabinet minister, was early into the fray, saying:

“What we’ve seen in his leadership campaign is a series of reckless and irresponsible ideas that we don’t think will improve the Canadian economy. Somebody who’s telling people to buy Bitcoin, somebody who’s calling child care agreements ‘slush funds,’ doesn’t feel like somebody who’s serious about big issues around affordability, around the economy.”

In an article recently published in the Canadian Financial Post, writer Ethan Lou, a former Reuters reporter, wrote a disparaging report on Poilievre, scorning his comment that “People can make their own investment decisions”. According to Lou, since winning the Conservative party leadership battle, Poilievre has very much toned down his “less mainstream stuff”, and hasn’t made a “single mention of cryptocurrency”.

The system gears up

It is probably to be imagined that this is just the beginning. It’s all very well for a Central American country to declare Bitcoin as a legal currency, but for such an important country as Canada to have a candidate for its prime ministership who understands and is entirely in favour of bitcoin, is another thing entirely.

Expect the mainstream media big guns to start coming out over the next year or two as we approach the Canadian election. Mr Poilievre will have to turn in the most adept performance of his life in order to win it.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.