A Leader of a Canadian Political Party Declares His Support for Bitcoin Ahead of Elections

<p>Bitcoin, according to the People's Party leader, is a "new and innovative" technique to circumvent central banks.</p> <p>Maxime Bernier, leader of Canada's fast-growing "People's Party," has declared his support for Bitcoin and cryptocurrency less than a week before the country's federal election.</p> <p>Bitcoin: A Revolt Against Central Banking</p> <p>Bernier expressed his support for Bitcoin in a tweet earlier this week, following numerous inquiries about whether he backed the currency or any of the other coins. “Of course,” he responded.</p> <p>“I despise how central banks are wreaking havoc on our currency and economy. I'm a traditional gold and silver supporter, but cryptos are another new and innovative technique to mitigate this risk that should be encouraged.”</p> <p>This statement is consistent with Bernier's previous criticisms of the current monetary system and the resulting inflation of the money supply. He chastised Prime Minister Justin Trudeau yesterday for exploiting the Bank of Canada's "Keynesian apparatchiks" by printing money to support his "gigantic deficits."</p> <p>Alternatively, because the Bitcoin network has a fixed supply cap of 21 million coins, it has frequently been hailed by members of the community as the antidote to inflationary monetary policy.</p> <p>Bernier's tweet garnered 10,000 likes and enthusiastic support from Bitcoin enthusiasts, however others urged him to go farther in his support. Stephan Livera, managing director of SwanBitcoin, reacted to Bernier by claiming that Bitcoin is superior to gold and Canada's "sole hope."</p> <p>According to their website, Bernier's "People's Party" combines "populism, classical conservatism, and libertarianism" with a "unwavering commitment to lowering the size of government." Though they presently hold no seats in parliament, polls indicate that they could garner up to 6.1 percent of the vote in the upcoming federal election.</p> <p>Additional Political Advocacy for Bitcoin</p> <p>While Bitcoin prices have been volatile rec