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Musk Might Back Pro-Crypto Candidate Pierre Poilievre in Canada
In a shocking turn of events, Elon Musk has seemingly shown support for Pierre Poilievre, the leader of the Conservative Party, in the Canadian federal election scheduled to take place on October 20. This comes as no surprise given Poilievre’s outspoken advocacy for cryptocurrencies and blockchain technology.
According to recent developments, Poilievre has been a vocal proponent of Bitcoin, using it to purchase a chicken shawarma in Ontario during his 2022 campaign. This bold move mirrors actions taken by other prominent political leaders such as Donald Trump, who utilized the Lightning Network during his presidential campaign in 2024.
Furthermore, Poilievre has publicly criticized the government’s control over financial systems and has called for greater freedom for citizens to utilize cryptocurrencies. He has also expressed support for legislation aimed at banning the introduction of a central bank digital currency (CBDC) in Canada.
Musk, known for his enthusiastic backing of various crypto-related initiatives, took to social media to share a video of Poilievre discussing inflation and government overspending, captioning it “Perfectly articulated.” Other prominent figures in the cryptocurrency space have also expressed their support for Poilievre, including Brian Armstrong, CEO of Coinbase, who replied to Musk’s post with “Well said.”
Moreover, David Bailey, CEO of BTC Inc., suggested that Poilievre could potentially establish a strategic Bitcoin reserve for Canada. This notion aligns with Poilievre’s earlier statement that “we need sound money again—and also the freedom for buyers and sellers to choose Bitcoin and other technology.”
The cryptocurrency community has been quick to rally around Poilievre, with many expressing their support on social media platforms. With Polymarket odds indicating an 89% chance of his win, it is highly likely that Musk’s endorsement will only bolster Poilievre’s chances in the upcoming election.
In related news, Vancouver City Council has approved a motion introduced by Mayor Ken Sim to explore holding Bitcoin in reserve and accept cryptocurrency payments for municipal services.
Source: coinchapter.com
