Canadian Prime Minister Justin Trudeau may soon step down, potentially paving the way for a more Bitcoin-friendly government in Canada. Reports suggest that Trudeau is likely to announce his intention to resign, although a final decision has not been made. This development comes at a time when the ruling Liberal Party is facing a decline in support, with polls indicating a significant lead for the official opposition Conservatives led by Pierre Poilievre.
Poilievre, who has expressed pro-Bitcoin sentiments in the past, is seen as a potential candidate to succeed Trudeau. He has been vocal about the benefits of Bitcoin, advocating for policies that are more welcoming towards digital assets. BTC Inc CEO David Bailey has fueled speculation by suggesting that Poilievre could establish a Strategic Bitcoin Reserve for Canada, similar to plans discussed by US President-elect Donald Trump.
Poilievre’s history with Bitcoin advocacy is well-documented, with his support for the digital currency dating back to when 1 BTC was valued at around $40,000. He has argued that Bitcoin can help Canadians “opt out of inflation” and has criticized the central bank for its handling of monetary policy. Despite facing criticism from political adversaries, Poilievre has maintained his stance on Bitcoin, emphasizing the importance of financial freedom and sound money.
If Poilievre does become the next prime minister of Canada, there is a possibility that the country could establish a BTC reserve, following in the footsteps of other pro-Bitcoin policymakers globally. This potential shift in government stance towards Bitcoin has generated excitement within the BTC community, with many believing that Canada could become a leading advocate for digital assets on the world stage.
At the time of writing, Bitcoin is trading at $99,318, reflecting the growing interest and investment in the cryptocurrency market. As the political landscape in Canada evolves, the establishment of a Strategic Bitcoin Reserve could signal a new era of digital asset adoption and innovation in the country.