Canadian Prime Minister Justin Trudeau announced his resignation on Jan. 7 following the departure of his finance minister, Chrystia Freeland. Conservative Party leader Pierre Poilievre is now poised to become Canada’s next prime minister, with the federal election set for Oct. 20. Poilievre enjoys strong support from the cryptocurrency community, as he is seen as pro-innovation and pro-Bitcoin. Elon Musk endorsed him by sharing a clip where Poilievre discusses inflation driven by excessive government spending. Other notable endorsements include Coinbase CEO Brian Armstrong praising Poilievre's economic views and BTC Inc CEO David Bailey suggesting a national Bitcoin reserve under his leadership. Poilievre has long supported Bitcoin, famously using it for purchases at events. As the election approaches, prediction markets show overwhelming favor for Poilievre, with odds at 89%, significantly ahead of his rivals. Additionally, Vancouver's city council is exploring holding Bitcoin in reserve and accepting cryptocurrency payments for municipal services, reflecting a growing embrace of digital currency in Canadian governance.

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