New Canadian PM Mark Carney's Bitcoin Stance Clashes With Opposition Leader Poilievre's Crypto Advocacy

Canada’s political landscape is set to experience a dramatic shift as the Liberal Party has confirmed Mark Carney as the nation’s new prime minister following a decisive victory on March 9. The move brings an unexpected dynamic to cryptocurrency policy discussions, particularly when contrasted with opposition leader Poilievre’s pro-crypto platform that has steadily gained traction among younger voters and blockchain enthusiasts.

From Central Banker to Political Leader

Carney brings extensive experience from the world’s top financial institutions to the prime minister’s office. The former governor of the Bank of Canada, who served from 2008 to 2013, later transitioned across the Atlantic to lead the Bank of England for a seven-year tenure. His dual central banking background positions him as one of Canada’s most institutionally experienced political leaders. In early March, Carney initiated the process of renouncing his UK and Irish citizenships to fully commit to his new role, a move that underscores the significance of his leadership transition.

Carney vs Poilievre: A Tale of Crypto Opposites

The contrast between Carney’s and Poilievre’s approaches to cryptocurrency could hardly be more pronounced. Carney has been deeply critical of Bitcoin since at least 2018, when he publicly declared that the asset’s fixed supply creates “serious deficiencies” in monetary systems. During a speech at the Bank of England, he characterized Bitcoin’s economic model as feeding “a global speculative mania that has encouraged a proliferation of new cryptocurrencies,” comparing it to “a criminal act of monetary amnesia” that attempts to recreate an outdated virtual gold standard.

Carney’s technical critiques extend beyond theoretical concerns. He highlighted Bitcoin’s severe price volatility as a fundamental flaw, describing cryptocurrencies as “poor short-term stores of value.” His illustrative example proved particularly pointed: a student borrowing 1,000 pounds in Bitcoin in December would find themselves 500 pounds short the following year due to price depreciation, while September borrowing would yield a 2,000-pound surplus—“quite a lottery,” as Carney dismissively characterized the situation.

Poilievre, by contrast, has emerged as a vocal pro-crypto advocate, positioning blockchain technology and digital assets as solutions to inflation concerns. His platform stands in stark opposition to Carney’s institutional skepticism, though both figures—and outgoing PM Justin Trudeau before them—have expressed reservations about how crypto adoption is promoted. Trudeau previously described Poilievre’s crypto messaging as “reckless,” specifically criticizing the framing that ordinary people can “opt out of inflation by investing in cryptocurrencies.”

The Stripe Paradox: Carney’s Crypto Contradiction

A notable contradiction emerges in Carney’s track record. While publicly opposing Bitcoin and cryptocurrencies, Carney served as a board member at Stripe, the prominent payments processor, from February 2021 through January 2025. During this tenure, Stripe implemented a comprehensive range of crypto payment solutions between 2022 and 2024, positioning the company as a significant player in blockchain payment infrastructure. This apparent inconsistency between Carney’s public statements and his corporate involvement raises questions about the nuances of his actual position on practical blockchain applications.

Carney has championed central bank digital currencies as the more responsible path forward, arguing that government-issued digital currencies could expand banking access to underserved populations and provide tools for combating terrorism and financial crime—a position more aligned with regulatory oversight than Poilievre’s libertarian-leaning crypto advocacy.

Tariff Wars Take Priority in Early Leadership

Despite the crypto policy divergence brewing between political factions, Carney’s immediate focus remains on responding to US trade tensions. In his March 9 victory speech, he directly confronted President Donald Trump’s tariff escalation, asserting that “Donald Trump has put unjustified tariffs on what we build, sell and how we make a living.” Canada’s government has implemented retaliatory tariffs that Carney has pledged to maintain until “the Americans show us respect.”

Carney also reinforced Canadian sovereignty in unambiguous terms, declaring that Canada “will never be part of America in any way, shape, or form”—a pointed response to Trump’s public aspiration to annex Canada as a 51st US state. With Carney’s arrival in the prime minister’s office, trade policy has essentially crowded out immediate cryptocurrency regulatory discussions, though his philosophical opposition to Poilievre’s crypto advocacy promises significant policy divergence should the political balance shift in future elections.