Elon Musk Endorses Pro-Crypto Canadian PM Contender Pierre Poilievre Ahead of Canada’s Election

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The CEO of both Tesla and SpaceX, Elon Musk, has publicly expressed his backing for Pierre Poilievre, a Canadian political figure who is an advocate for Bitcoin.

After Justin Trudeau, the Canadian Prime Minister, announced his resignation on January 7th, following the sudden exit of his Finance Minister, Chrystia Freeland.

Or:

In response to Justin Trudeau’s announcement of his resignation on January 7th, triggered by Chrystia Freeland’s abrupt departure as finance minister.

Both sentences convey the same meaning and are easy to read.

The Endorsement

Elon Musk posted a video of Poilievre talking about inflation and financial strategy on platform X, labeling it “Clearly explained.” Given his position as leader of the Conservative Party, he is currently viewed as the leading contender to replace Trudeau. The federal election in Canada is set for October 20, 2025.

The video has attracted significant interest, notably from the cryptocurrency enthusiasts, who have shown strong support for him because of his supportive views on cryptocurrencies and his push for technological advancement.

The leader of the opposition is well-known for his longstanding endorsement of Bitcoin. He often makes appearances on digital currency podcasts and champions the idea of making Canada a global hub for blockchain technology.

During his 2022 election, he demonstrated his support for the leading cryptocurrency by opting to pay for shawarma with it, similar to U.S. President-elect Donald Trump’s act of buying burgers at New York’s PubKey bar using Bitcoin.

A short while ago, I contributed a sum of 100 Bitcoins to the British Columbia Society for the Preventing Animal Cruelty. Furthermore, should I ascend to the position of Prime Minister, I would strive to eliminate any taxation associated with crypto donations.

The individual who is 45 years old has not only expressed supportive comments about cryptocurrency but also voiced his opinion on several occasions. During one instance, he advocated that Canadians should be allowed to utilize alternative forms of money, such as Bitcoin, expressing disapproval towards the government for potentially devaluing the nation’s traditional currency.

Pierre Poilievre has frequently spoken against the Bank of Canada. In April 2022, he claimed that the high inflation rates experienced by Canada could be attributed to the bank’s contentious strategies. Furthermore, he stated that digital currencies like Bitcoin might provide solutions for Canada’s economic issues.

Additionally, a Reuters article published in April of the previous year indicated that the individual, aged 45, expressed approval for laws aimed at preventing the implementation of a Central Bank Digital Currency (CBDC) within the nation.

Poilievre’s Odds and Vancouver’s Bitcoin Moves

According to data from Polymarket, it’s predicted that Pierre Poilievre is highly likely to win the upcoming election with an 89% probability, significantly more than his nearest competitor, Chrystia Freeland, who currently stands at only a 7% chance of victory.

In other developments, on December 11, Vancouver’s City Council agreed with an idea proposed by Mayor Ken Sim, which involves exploring the possibility of keeping Bitcoin as a reserve and accepting cryptocurrency transactions for public services.

According to local news sources, the plan was approved primarily by party members, with both Sim and the councilors from ABC Vancouver voting in favor. In contrast, two Green councilors voiced their opposition. Additionally, it’s been announced that Sim intends to donate $10,000 worth of Bitcoin towards this initiative.

Over the past 16 years, Bitcoin has been the top-performing asset globally. In my opinion, ignoring its potential inclusion in a balanced investment portfolio could be seen as imprudent.

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2025-01-09 01:26