Canada’s Candidate For Prime Minister Supports Using Bitcoin As Money

Canada’s Candidate For Prime Minister Supports Using Bitcoin As Money

The Canadian Prime Minister candidate, Pierre Poilievre, has supported the community of bitcoin partisans who believe that cryptocurrency will race the country's economy as an alternative financial system. To the partisans who started the "freedom convoy," bitcoin is the way out of the woes of economic slavery taking over their nation's capital. Greg Foss leads one such convoy.

According to Pierre Poilievre's YouTube channel, on Tuesday, March 29th, came to team up with Grey Foss and other participants. in January and February, the bank froze some protester accounts during their protest against Prime Minister Justin Trudeau's anti-crypto stance in Ontario. He proposes that Canada needs financial freedom such that it can own and use crypto, tokens, smart contracts, and decentralized finance.

In his speech at the real tahini shop where he bought shawarma and made a transaction fee using bitcoin, he stated, "People should have the freedom to choose other money." If the government misuses our money, we should be free to use other, higher-quality money. " He believes that if the government ruled over the country's money, the dollar would devalue in taxation. So if elected Prime Minister, he will keep crypto legal, reject a Chinese-style crackdown, and tax crypto in the same way gold and other commodities are.

On the other hand, Karringten Kolya, the Executive director of the Canadian blockchain consortium Meetitwith Cointelegraph, said that it is and I will of the liberal government, and he added, 

"It's important to have a strong advocacy position to educate the government on the blockchain. Once they see the level of tax revenue, they will know this isn't an industry for criminals, it's an industry for innovation."

In general, despite the inflammation, the adoption will spark the interest of many Canadian citizens. According to Ipsos, a research market company, there has been an increase as about 25% of Canadian adults are considering buying crypto in the future, as reported by coin-crypto. Kerrington added that "the bank can no longer ignore it, and politicians can no longer ignore it. They all start to wonder, "How can we take over?"

Many argue that bitcoin crypto is a delusion? As Buffet said in 2019, bitcoin is ingenious but has no unique value and doesn't produce anything. According to him, it is rat poison for investors. Also, Munger, in his rejection of using crypto as money, stated, "I don't welcome a currency that's so useful to kidnappers and extortionists."

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