The People’s Party leader calls Bitcoin a “new and modern” method to counter central banking.
Bitcoin: A Counter to Central Banking
Bernier revealed his opinion for Bitcoin in a tweet earlier this week, after many had asked him whether he supported the asset and any of the alternative coins. “Of course I do,” he replied.
“I hate how central banks are destroying our money and economic system. I’m more of an old style gold & silver fan, however cryptos are another new and modern option to counter this that should be encouraged.”
This assertion is in step with different feedback from Bernier condemning the present financial system and the inflation of the cash provide. Yesterday, he criticized Prime Minister Justin Trudeau for abusing the “Keynesian apparatchiks” on the Bank of Canada, printing money to fund his “gigantic deficits.”
Alternatively, the Bitcoin network has a set supply cap of 21 million coins, so it has usually been touted as the answer to inflationary financial coverage by members of the community.
Bernier’s tweet received 10k likes alongside glowing support from Bitcoin enthusiasts, although some inspired him to take his help a step further. Stephan Livera, managing director at SwanBitcoin, responded to Bernier, arguing that Bitcoin is superior to gold and “the only chance” that Canada has.
Bernier’s “People’s Party” brings together “populism, classical conservatism, and libertarianism,” with an “unwavering commitment to decreasing the size of government,” as reads their website. Although they at the moment maintain no seats in parliament, polls predict that they might win as a lot as 6.1% of the vote in a federal election that’s only a week away.
More Political Support for Bitcoin
Whereas prices have been fluctuating wildly as of late, there has additionally been a robust undercurrent of political adoption and curiosity for Bitcoin throughout the globe. El Salvador famously adopted cryptocurrency as legal tender earlier this month, and a current ballot shows that 48% of Brazilians are in favor of following in these footsteps.
Furthermore, Ukraine passed a decree to legalize all cryptocurrencies just days in the past, and the government plans to create a regulatory physique that may concern permits for firms surrounding digital assets.