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HomeBTCJustin Trudeau slams opposition party for sharing "irresponsible" views on Bitcoin

Justin Trudeau slams opposition party for sharing “irresponsible” views on Bitcoin

The Prime Minister of Canada, Justin Trudeau, does not endorse Bitcoin or any other cryptocurrency. Neither does he endorse any other cryptocurrency. On the other hand, his primary political adversary is Pierre Poilievre, who was just recently elected as the new leader of the Conservative Party. Poilievre is an avid promoter of Bitcoin. In the face of growing inflation throughout the world, he has made known his support for the principal cryptocurrency.

Poilievre has not attempted to conceal his opinions towards Bitcoin or the cryptocurrency industry. Bitcoin, according to the newly elected leader of the Conservative Party, is well adapted to address the challenges posed by growing inflation levels, and he is encouraging people to invest in the currency.

The comments that Poilievre was making about Bitcoin have been attacked by Trudeau, who said that it was irresponsible to promote cryptocurrencies to the general public. Trudeau’s comments can be seen here. While giving a speech in St. Andrews, New Brunswick, the Prime Minister said that it was poor leadership to encourage people to avoid inflation by putting their money in unpredictable crypto assets. This statement was made while the Prime Minister was in St. Andrews, New Brunswick.

According to Trudeau, anybody who followed the advice and put their life savings in crypto assets would end up losing all they had invested in the end. However, Trudeau did not end his actions there. After that, he attacked his political adversary on Twitter for his support of cryptocurrency, namely Bitcoin.

Crypto community reaction on Prime Minister Trudeau statement

Crypto community reaction on Prime Minister Trudeau statement
Crypto community reaction on Prime Minister Trudeau statement

However, the crypto community was quick to condemn him when he made some controversial statements on Twitter, which did not bode well for him. A significant number of Bitcoin users, including Dan Held, a former executive at Kraken, have denounced Trudeau for targeting his political adversary because of his support for Bitcoin.

Poilievre has received an enormous amount of support in his bid to become the next leader of the conservative party in Canada. Following an emphatic victory in which he received more than 68 percent of the party vote, he was elected as the new head of the party. The candidate that finished in second place garnered just 16% of the vote.

Poilievre was in charge of leading a campaign that primarily focused on encouraging financial responsibility and bringing under control the growing levels of inflation. The assumption that an increase in the money supply hindered consumers’ ability to make purchases is what led Poilievre to advocate for Bitcoin as a superior option during the period in which global inflation levels were soaring.

Supporters of Bitcoin contend that the fact that there can never be more than 21 million coins in circulation gives it the character of “hard money.” Since the beginning of the campaign, Poilievre has not been shy in sharing his opinions towards Bitcoin. He has promoted the major cryptocurrency as “digital gold” on a number of Bitcoin podcasts, which he has been on.

During a protest that took place in the month of March, Poilievre said that the success of the Canadian dollar was being hindered by the government. He stated that Canadians needed the freedom to utilise other forms of money such as Bitcoin.

Poilievre also provided a link to make financial contributions, in which he asked his fans to regain their independence from “bankers and politicians” and to work toward making Canada the “blockchain capital of the world.”

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Reporter
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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