In an unexpected development, Justin Trudeau has officially stepped down as the Prime Minister of Canada, bringing an end to his leadership that began back in 2015.
After more than a decade in office, Trudeau attributed internal conflicts within his administration as the primary reason for his sudden resignation. Addressing the media, he expressed,
“I plan to resign as the leader of the party and as Prime Minister once a new leader is chosen. I don’t believe I’m the right person to lead the liberal party into the upcoming election.”
Justin Trudeau’s Stance on Cryptocurrency
Throughout his tenure, Trudeau was known for his critical views on cryptocurrencies, frequently highlighting the associated risks.
His handling of economic policies and management of rising inflation faced significant backlash, leading to doubts about his governance abilities.
Trudeau had previously voiced disapproval of the Conservative leader Pierre Poilievre’s pro-Bitcoin stance, warning Canadians about the potential dangers of investing in Bitcoin during times of inflation.
His government’s freezing of 34 crypto wallets and halting of crypto transactions under the Emergencies Act, particularly during the 2022 Freedom Convoy protests, added fuel to the fire.
Potential Successor: Pierre Poilievre
Following Trudeau’s resignation, Pierre Poilievre has emerged as a strong contender for the position of Prime Minister, especially given his vocal support for crypto and decentralized finance (DeFi).
At a time when interest in crypto adoption is on the rise globally, Poilievre’s pro-crypto stance aligns with the sentiments of the crypto community in Canada.
Amidst global developments in countries like the United States, where Donald Trump has reappeared as the 47th President, establishing a Strategic Bitcoin Reserve, Poilievre’s advocacy for cryptocurrency could significantly impact Canada’s digital asset landscape.
With betting odds on Polymarket indicating a 92% probability of Poilievre becoming the next Prime Minister of Canada following Trudeau’s resignation, it is evident that his crypto-friendly approach has garnered significant support.
Pierre Poilievre’s Pro-Crypto Track Record
Since entering Parliament in 2004, Poilievre has consistently pushed for policies centered around limited government, economic self-reliance, and individual liberties.
His campaign slogan encapsulates his vision for Canada’s future: “Axe the Tax. Build the Homes. Fix the Budget. Stop the Crime.”