The race to Canada’s top job just got a major shake-up—and it looks like Pierre Poilievre is now the frontrunner to become the country’s next prime minister. After Prime Minister Justin Trudeau announced his resignation on January 7, following the sudden exit of his finance minister Chrystia Freeland, eyes turned to Poilievre as the potential leader of Canada.
Poilievre, a strong advocate for Bitcoin and innovation, has garnered overwhelming support from key figures in the cryptocurrency world. His campaign is shaping up to be not just about politics, but about shifting Canada’s financial future toward a more decentralized and tech-forward direction.
Poilievre’s Bitcoin-Friendly Vision: A Game Changer for Canada?
As of now, the federal election is set for October 20, and prediction markets are buzzing. Polymarket, a decentralized prediction platform, places Poilievre’s chances of winning at a staggering 89%. That’s light years ahead of his closest competitors: former Deputy Prime Minister Chrystia Freeland (6.5%) and New Democratic Party leader Jagmeet Singh (1.6%).
So why are so many in the crypto world getting behind Poilievre? The answer lies in his strong stance on financial reform and cryptocurrency. Poilievre is seen as a champion of Bitcoin and digital innovation—an outsider who’s willing to challenge the status quo.
Crypto Bigwigs Back Poilievre’s Pro-Bitcoin Stance
When it comes to embracing the power of blockchain technology, Poilievre doesn’t just talk the talk—he walks the walk. His economic philosophy, which includes reducing government spending and empowering individuals through innovation, resonates with many in the tech community.
Tesla and SpaceX CEO Elon Musk made waves when he shared a video of Poilievre discussing the dangers of inflation driven by excessive government spending. Musk captioned it with a simple, “Perfectly articulated,” which quickly went viral. In the clip, Poilievre explains how inflation isn’t just a number—it’s a real issue that erodes the value of everyday people’s money.
Brian Armstrong, the CEO of Coinbase, also showed his support, commenting “Well said” on the video post. This is a clear signal that Poilievre is gaining traction not only in the world of politics but also within the growing crypto movement.
David Bailey Envisions Canada’s Bitcoin Future
David Bailey, CEO of BTC Inc., took it a step further. In a recent tweet, Bailey expressed his belief that Poilievre could pave the way for Canada to establish a Strategic Bitcoin Reserve—a bold and forward-thinking move that could position Canada as a global leader in Bitcoin adoption. Imagine Canada accumulating Bitcoin as part of its national assets, just like how countries hold gold or foreign currencies. This type of reserve could offer economic stability and serve as a hedge against inflation.
While this idea may seem futuristic, it’s worth noting that U.S. President-elect Donald Trump also voiced plans in 2024 to create a strategic Bitcoin reserve for the U.S. It’s clear that Poilievre is aiming to keep Canada at the cutting edge of digital finance.
Poilievre’s History with Bitcoin: Walking the Talk
Poilievre’s pro-Bitcoin rhetoric isn’t just new—it’s part of his long-standing vision to bring Canada into the world of decentralized finance. During his 2022 campaign, he made headlines by purchasing a chicken shawarma using Bitcoin at an event in Ontario. This move mirrored a similar stunt by Donald Trump, who visited a Bitcoin-themed bar in New York City and paid for his drinks using the Bitcoin Lightning Network.
His belief in Bitcoin’s potential has been consistent. In 2022, he took to Twitter, stating: “Money-printing deficits make our wages go up in smoke. We need sound money again—and also the freedom for buyers and sellers to choose bitcoin and other technology.”
Fast forward to 2024, and Poilievre is continuing to push for legislation that would ban the introduction of a central bank digital currency (CBDC) in Canada. He’s a firm believer that individuals should have the freedom to choose their currency, including Bitcoin.
The Market Predicts Poilievre’s Victory
It’s not just the crypto industry that’s betting on Poilievre’s rise. As of now, prediction markets on Polymarket show overwhelming confidence in his victory. The total volume of bets placed has reached over $500,000, and Poilievre’s odds of winning are dominating at 89%. His nearest rival, Chrystia Freeland, is trailing far behind with just 6.5%, while outgoing Prime Minister Trudeau’s odds are a dismal sub-1%.
This is a clear signal that Poilievre’s message is resonating, not just with crypto enthusiasts, but with a broad swath of voters looking for change in Canada’s leadership.
Vancouver’s Bitcoin-Friendly Move
It’s not just Poilievre who’s looking at Bitcoin’s potential. On December 11, Vancouver’s City Council, led by Mayor Ken Sim, passed a motion to explore the idea of holding Bitcoin in reserve and accepting cryptocurrency payments for municipal services. This bold initiative could make Vancouver one of the first major cities in the world to embrace Bitcoin as a strategic asset.
Mayor Sim even pledged to donate $10,000 worth of Bitcoin to kickstart the initiative, saying that it would be “irresponsible” for the city not to consider the merits of adding Bitcoin to its financial portfolio. With such forward-thinking moves, Vancouver is positioning itself as a potential hub for blockchain technology, and it looks like Poilievre’s vision could bring Canada closer to adopting similar strategies on a national scale.
The Bottom Line: A Crypto-Friendly Canada?
As we approach Canada’s federal election in October, the race for leadership is shaping up to be a defining moment for the country’s economic future. Pierre Poilievre’s embrace of Bitcoin and his commitment to cutting government spending could be just what Canada needs to stay ahead of the curve in a rapidly changing global economy. If the crypto community’s support is any indication, Poilievre may very well be the candidate to lead Canada into a new era of financial innovation.
So, whether you’re in the crypto space or simply looking for a change in leadership, one thing is clear: Pierre Poilievre is a name to watch in the months ahead.
