Elon Musk praised Canada bitcoinfriendly opposition leader Pierre Poilievre early on Tuesday after days of the tech titan attacking European politicians.
The CEO of Tesla and SpaceX writes on his social media platform X (formerly Twitter). posted a widely shared video of Poilievre explaining how the best way to fight inflation is to cut government spending — one of Musk’s own pet projects.
Conservative leader Pierre Poilievre is running for prime minister after Justin Trudeau announced plans to resign on Monday. Canadian voters are particularly concerned about the cost of living in the North American country, according to public opinion polls they showed.
“Perfectly worded,” Musk wrote on the platform he owns.
Poilievre has been pro-Bitcoin for years, appearing on cryptocurrency podcasts and expressive his desire to make Canada the “blockchain capital of the world.”
Still a conservative politician in 2022 he said that “Canadians should be free to use other money like Bitcoin” because the government was “ruining” the Canadian dollar.
Trudeau called the comment “reckless” at the time. Canada’s current prime minister said Monday he will step down once a successor is chosen.
Crypto punters see Poilievre as the favorite to be named Canada’s prime minister after the upcoming election. It is on the Polymarket predictive market gives an 89% chance winning the role, well ahead of runner-up Chrystia Freeland.
Musk’s apparent endorsement of Poilievre may be related to the billionaire’s own cost-cutting ambitions: Musk will play a large role in Republican Donald Trump’s administration by leading a government department called Ministry of Government Efficiencyor DOGE. It will work to save money.
The idea has sparked excitement among dogecoin investors who think it proves Musk’s love for the cryptocurrency. Musk has he tweeted repeatedly about Dogecoin – which trades under the ticker DOGE – in the past, leading to huge jumps in its price.
Venture capitalist and Y Combinator CEO Garry Tan on Tuesday he claimed in a comment on the same video Poilievre of this cryptocurrency Dogecoin would go on the price if Musk’s cost-cutting policies are successful.
Musk responded to Tan, “If dollar inflation is resolved, the dollar price to buy cryptocurrency will actually drop, other things being equal.
But despite talk of Dogecoin Musk last year he admitted that he is “not actively involved” in cryptocurrencies – and only likes memes.
Musk last week attacked repeatedly British Prime Minister Keir Starmer – and other politicians – say they have not done enough to help victims of the grooming gang scandal. European politicians since then voiced alarm over the increasingly controversial antics of the outspoken entrepreneur.
Edited Andrew Hayward
Daily analysis Bulletin
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