Pierre Poilievre: A Pro-Crypto Frontrunner for Canada’s Prime Minister

With Canadian Prime Minister Justin Trudeau's surprise announcement to step down, all eyes are on opposition leader Pierre Poilievre, a frontrunner to become the country's next leader. Poilievre has long been a vocal advocate for cryptocurrency, a stance that has gained renewed attention as he positions himself as a candidate for change.

In March 2022, Poilievre captured headlines when he bought a shawarma with Bitcoin during a campaign event. The video, which has recently resurfaced, showcases his promise to turn Canada into the "blockchain and crypto capital of the world." In his speech, Poilievre criticized the central banking system and Canada's regulatory stance on cryptocurrency. He went as far as to claim that Bitcoin could offer Canadians a way to “opt out” of inflation — a comment that drew both public intrigue and political backlash.

Poilievre's pro-crypto rhetoric continued to make waves in 2022, including frequent posts on social media platforms such as X (formerly Twitter). One of his notable promises was to protect the rights of buyers and sellers to freely choose Bitcoin and other technologies. He also took aim at the Bank of Canada, which he accused of being “financially illiterate” for considering a central bank digital currency (CBDC). Poilievre pledged to prevent the Bank of Canada from introducing what he described as a "risky" digital currency.

Further solidifying his crypto stance, Poilievre lent support to a bill in April 2024 that would ban the development of a central bank digital currency, reinforcing his commitment to protecting traditional cash and allowing Canadians more freedom in their financial choices.

Poilievre’s personal financial interest in cryptocurrency has also been subject to public scrutiny. In May 2022, CTV News reported that Poilievre’s asset disclosure revealed that he held shares in Purpose Bitcoin ETF, a local exchange-traded fund dedicated to Bitcoin. However, by November 2023, those holdings appeared to have vanished from his disclosure.

Poilievre, who has been the leader of the Conservative Party since 2022, is currently in a strong position to succeed Trudeau. According to recent polling from CBC News, as of January 6, 2025, Poilievre’s Conservative Party holds a commanding 24-point lead over the ruling Liberals and has a 98% chance of securing a majority in the upcoming federal election.

Trudeau’s resignation, which was announced on January 6, comes amidst mounting internal challenges within his party, including conflict over his handling of the national deficit and looming tariffs promised by former U.S. President Donald Trump. With Parliament suspended until March 24, the Liberals are expected to select a new leader soon, with a federal election due to take place no later than October 20, 2025.

In this rapidly shifting political landscape, Poilievre's pro-crypto stance could play a crucial role in his bid for the prime ministership. Whether or not Canadians choose him as their next leader, Poilievre's advocacy for a crypto-friendly future will likely remain a key element of his political identity.