Crypto proponent Pierre Poilievre attributed the recent hike in inflation to the central bank's mismanagement.
Claiming to restore people’s purchasing power safeguarding their financial freedom, Poilievre promised that if elected as the Official Opposition leader, he would expand the auditor general’s authority to include the BoC. In this way, he believed elective officials could make the institution in charge of money printing accountable for its monetary policies.
Additionally, he vowed to “stop the risky central bank digital currency” as he saw it as a means of eroding people’s financial wellbeing.As a crypto bull, Poilievre suggested that Canadians can “opt out” of inflation by investing in digital assets like bitcoin. He didn’t want the Bank of Canada to offer a similar product as he insisted on the importance of decentralizing the central bank’s power.
Previously, he said, if elected, he would build Canada into the world’s blockchain capital. By introducing a new model of a decentralized economy, he believed it would allow people to regain control over their money from bankers and politicians. Canada has already made quite a few strides in the cryptocurrency industry. Aside from having a clearer approach to regulations than some other nations, its watchdogs were among the first to greenlight a Bitcoin ETF last year.
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