Breaking Down the Canadian Election: Bitcoin, Trump, and Trade
Canadian elections results announce Mark Carney, a notable Bitcoin critic, as the winner, defeating Pierre Poilievre in the race.
TL;DR:
- The 2025 Canadian federal election saw Mark Carney, a Bitcoin critic and former central bank governor, win against Pierre Poilievre, a pro-Bitcoin Conservative candidate.
- Carney's win could be attributed to his handling of the U.S. trade tensions and President Trump's outbursts, rather than his stance on cryptocurrency.
Briefly
- Pierre Poilievre, a Bitcoin enthusiast, seemed poised to win Canada's general election back in January.
- However, market favors shifted towards Mark Carney, who took over from Justin Trudeau in March, following tough rhetoric from U.S. President Trump.
- The results are in, and Carney will remain the Canadian Prime Minister.
Decrypt's Insight
- A critic of Bitcoin and a proponent of CBDCs, Carney, outsmarted Poilievre who advocated for the acceptance of Bitcoin for payments.
- Carney's comeback victory might be partially due to his tough stance on Trump, while Poilievre failed to differentiate himself from the U.S. President, despite standing up to him.
- Despite Poilievre's attempt to capitalize on Bitcoin's popularity, geopolitical tensions proved to be the deciding factor in the election.
Trade Wars and Heated Exchanges
- Broadly speaking, voters in Canada viewed Carney’s Liberals as better equipped to handle Trump’s trade tensions, which posed significant threats to Canadian exports and hinted at potential annexation.
- Poilievre's early association with Trump's pro-Bitcoin agenda, combined with Trump's trade policies, proved detrimental to his chances as Canadian voters prioritized trade stability over crypto policy.
Elon Musk's Influence
- Sources do not mention Elon Musk's endorsement of Carney, suggesting that Musk's influence was not a significant factor in this election cycle.
Written by Andrew Hayward
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Crypto Lovers, Hate Speech, and the Polls
- Contrasting views on Bitcoin played a complex role in the 2025 Canadian federal election, though the broader trade tensions and U.S.-Canada relations dominated the discourse.
- Carney's persistent criticism of Bitcoin and his admiration for the idea of CBDCs set him apart from Poilievre, who pushed for the acceptance of Bitcoin for payments in Canada.
- In the past, Carney, as a former Bank of England governor, was vocal about his skepticism towards Bitcoin, labeling it a "speculative mania" and warning against a Bitcoin standard as a "criminal act of monetary amnesia." [1]
- Poilievre initially gained support by mirroring the pro-Bitcoin stance of Donald Trump, but he later distanced himself as Trump's trade policies strained Canadian-U.S. relations. [2][4]
- However, Poilievre's earlier lead in the polls (83% odds in February) unraveled, and he ended up losing to Carney, as voters prioritized trade stability over cryptocurrency policy. [2][4]
- On the other hand, voters viewed Carney as an effective leader capable of handling tensions with the U.S., with 55% of voters believing his Liberals were better equipped to cope with Trump’s trade tactics. [2][5]
- Although Poilievre urged Trump to “stay out of our election,” the damage was already done after his early alignment with Trump's crypto-friendly agenda. [2][4]
- The election results highlight the fact that geopolitical tensions overshadowed niche policy issues like cryptocurrency, despite Poilievre's efforts to capitalize on Bitcoin's popularity. [2][5]
- Despite Pierre Poilievre's initial lead in the 2025 Canadian federal election, emphasizing Bitcoin, trade tensions presented a significant concern for voters.
- Mark Carney, a Bitcoin critic and former central bank governor, managed to outshine Poilievre, winning the election due to his perceived ability to handle U.S. trade tensions.
- During the election, Poilievre advocated for the acceptance of Bitcoin for payments, while Carney expressed skepticism towards the digital currency and supported CBDCs.
- Moreover, Poilievre's early association with Trump's pro-Bitcoin agenda undermined his credibility, as Canadian voters prioritized trade stability over cryptocurrency policy.
- Elon Musk's endorsement of Carney did not significantly impact the election, with sources indicating that it was not mentioned during the campaign.
- The results of the election showed that voters saw Carney's Liberals as better equipped to handle Trump’s trade tensions, which posed threats to Canadian exports and hinted at potential annexation.
- In contrast, Poilievre's pro-Bitcoin stance failed to overshadow his early association with Trump and his trade policies, which ultimately led to his loss.
- Geopolitical tensions proved to be the deciding factor in the election, overshadowing niche policy issues like cryptocurrency.
- The election results also highlight the potential impacts of Bitcoin and crypto policy on European countries, given the close relationship between the US and Canada.
- Meanwhile, the gambling industry, including casino games, lotteries, and sports betting in Las Vegas and other gambling hubs, could face disruptions due to the political climate.
- As the online gambling trends continue to grow, the implications of political instability and changing policies will be significant for casino personalities and overall casino culture.
- Furthermore, the unpredictable nature of the political landscape adds to the challenges faced by responsible gambling advocates who aim to mitigate the risks associated with online gambling and crypto transactions.
- Given the international implications, the policy and legislation concerning cryptocurrency, politics, trade, and crime and justice will be closely monitored in the near future.
- Additionally, the confluence of cryptocurrency and gambling trends could impact various general news topics, including cybersecurity, consumer protection, and financial regulations, in both Canada and worldwide.
