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

Tesla and SpaceX CEO Elon Musk has proven his assist for Pierre Poilievre, Canada’s pro-Bitcoin opposition chief.

This follows Canadian Prime Minister Justin Trudeau’s announcement of his resignation on January 7, within the wake of the abrupt departure of his finance minister, Chrystia Freeland.

The Endorsement

Musk shared a video of Poilievre discussing inflation and monetary coverage on X, captioning it, “Completely articulated.” Because the Conservative Social gathering chief, he’s now extensively seen because the frontrunner to succeed Trudeau, with Canada’s federal election scheduled for October 20, 2025.

The video has gained quite a lot of consideration, significantly from the cryptocurrency group, which has rallied behind him as a result of his pro-crypto stance and advocacy for innovation.

The opposition chief has been a long-time supporter of Bitcoin, often showing on digital asset podcasts and advocating for Canada to turn out to be the “blockchain capital of the world.”

In his 2022 marketing campaign, he made his backing of the flagship cryptocurrency clear by utilizing it to pay for shawarma, a transfer paying homage to U.S. President-elect Donald Trump’s purchase of burgers in New York’s PubKey bar, utilizing BTC.

A couple of weeks later, he donated $100 value of Bitcoin to the British Columbia Society for the Prevention of Cruelty to Animals. Moreover, he pledged to take away taxes on crypto donations if he turned Prime Minister.

The 45-year-old has additionally made a number of pro-crypto statements. On one event, he argued that “Canadians ought to have the liberty to make use of different types of cash, like Bitcoin,” criticizing the federal government for “ruining” the nation’s fiat forex.

Poilievre has additionally been an outspoken critic of Canada’s central financial institution. In April 2022, he attributed the North American nation’s document inflation to the establishment’s controversial insurance policies. He additionally said that options like Bitcoin had been important in addressing Canada’s financial challenges.

Additional, a Reuters report from April final yr confirmed that the 45-year-old voiced his assist for laws that might block the introduction of a central financial institution digital forex (CBDC) within the nation.

Poilievre’s Odds and Vancouver’s Bitcoin Strikes

Knowledge from the prediction market Polymarket shows that Poilievre has an 89% likelihood of profitable the upcoming election, far forward of the subsequent closest contender, Chrystia Freeland, who has only a 7% likelihood.

In associated information, on December 11, Vancouver’s Metropolis Council authorised a motion put ahead by Mayor Ken Sim, suggesting the town take into account holding Bitcoin in reserve and accepting cryptocurrency funds for municipal companies.

Native media revealed that the proposal handed alongside occasion traces, with Sim and ABC Vancouver councilors in favor, whereas two Inexperienced councilors opposed it. Sim has additionally dedicated to donating $10,000 value of Bitcoin in assist of the initiative.

“Bitcoin is the primary performing asset on the planet during the last 16 years, so to not even take a look at together with it as part of a diversified portfolio is, I believe, reckless,” he mentioned.