Musk, Crypto leaders back Poilievre as Trudeau announces exit
Canadian Prime Minister Justin Trudeau announced his resignation on January 7, following the departure of Finance Minister Chrystia Freeland. Conservative Party leader Pierre Poilievre is the frontrunner for the upcoming federal election on October 20. Poilievre has garnered significant support from the cryptocurrency community, advocating for Bitcoin and innovation. Elon Musk praised Poilievre's views on inflation, which he attributes to excessive government spending. Coinbase CEO Brian Armstrong endorsed Poilievre's economic stance. David Bailey, CEO of BTC Inc., suggested Poilievre could establish a national Bitcoin reserve to enhance economic stability. Poilievre has previously expressed support for Bitcoin adoption and opposed central bank digital currencies. Prediction markets indicate an 89% chance of Poilievre becoming prime minister, with Freeland at 6.5%. Vancouver's city council is exploring holding Bitcoin in reserve and accepting cryptocurrency for municipal services, with Mayor Ken Sim proposing a $10,000 Bitcoin donation to initiate the effort.
