Elon Musk endorses pro-crypto Canadian Prime Minister candidate Pierre Poilievre ahead of Canada’s election

Tesla and SpaceX CEO Elon Musk has shown his support for Canadian pro-Bitcoin opposition leader Pierre Poilievre.

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

The Endorsement

Musk shared a video of Poilievre discussing inflation and fiscal policy on X, captioning it: “Perfectly articulated.” As leader of the Conservative Party, he is now widely seen as the favorite to succeed Trudeau, with Canada’s federal election scheduled for October 20, 2025.

The video has gained a lot of attention, especially from the cryptocurrency community, which has rallied behind it due to its pro-crypto stance and advocacy for innovation.

The Opposition Leader has been a long-time supporter of Bitcoin, appearing frequently on digital asset podcasts and advocating for Canada to become the “blockchain capital of the world.”

In his 2022 campaign, he made his support for the flagship cryptocurrency clear by using it to pay for shawarma, a move reminiscent of US President-elect Donald Trump’s purchase of hamburgers at New York’s PubKey bar. using BTC.

A few weeks later, he donated $100 worth of Bitcoin to the British Columbia Society for the Prevention of Cruelty to Animals. He also promised to eliminate taxes on crypto donations if he became prime minister.

The 45-year-old has also made several pro-crypto statements. On one occasion, he argued that “Canadians should have the freedom to use other forms of money, like Bitcoin,” criticizing the government for “ruining” the country’s fiat currency.

Poilievre has also been an outspoken critic of Canada’s central bank. In April 2022, he attributed the US nation’s record inflation to the institution’s controversial policies. He also said alternatives like Bitcoin were essential to addressing Canada’s economic challenges.

Additionally, a Reuters report from April last year showed the 45-year-old voiced his support for legislation that would block the introduction of a central bank digital currency (CBDC) in the country .

Poilievre odds and Vancouver Bitcoin moves

Data from prediction market Polymarket shows Poilievre has an 89% chance of winning the next election, well ahead of the next closest candidate, Chrystia Freeland, who has just a 7% chance.

In related news, on December 11, Vancouver City Council approved a motion by Mayor Ken Sim, suggesting that the city consider holding Bitcoin in reserve and accepting cryptocurrency payments for municipal services.

Local media revealed the proposal passed along party lines, with councilors Sim and ABC Vancouver in favor, while two Green councilors opposed it. Sim has also pledged to donate $10,000 in Bitcoin to support the initiative.

“Bitcoin has been the number one performing asset on the planet for the last 16 years, so to not even look at including it as part of a diversified portfolio is, I think, reckless,” he said.

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