Canadian Prime Minister Justin Trudeau says investing in crypto is not an escape from inflation.

basis In a new tweet on Tuesday, Canadian Prime Minister Justin Trudeau made critical comments about the pro-crypto platform of newly elected Opposition Leader Pierre Polivère:

“We also call it questionable and reckless economic ideas. Telling people they can get out of inflation by investing in cryptocurrencies is not responsible leadership.”

In a separate TV appearance, Trudeau reiterated his comments, adding that “responsible leaders” should not advise individuals to “invest their life savings in volatile cryptocurrencies.”

On Saturday, Calgary-born politician Pierre Polivere won 68.15% of the vote to become the next leader of the Conservative Party of Canada, or the official challenger to the incumbent Liberal Party, led by Justin Trudeau.

Polivere is a pro-crypto advocate who has pledged to turn Canada into the “Blockchain Capital of the World,” citing good job opportunities in the Web3 sector and the low cost of accessing financial products. In a previous interview, Pollivere said the government is “ruining the Canadian dollar,” adding that Canadians should consider other forms of money, such as crypto.

Earlier this year, Canada declared a state of emergency after truckers dubbed the Freedom Convoy blocked downtown Ottawa. The group has called for an end to all coronavirus-related lockdown measures and an end to vaccination obligations.

In response, the Trudeau government has called for a national emergency to allow banks to freeze funds linked to opposition activities. Subsequently, an Ontario judge ordered the blocking of millions of bitcoin donations to the group’s wallet addresses. The RCMP, or the Canadian Federal Police, has also requested a crypto exchange Freeze wallets held by opponents.

In the year As of July 2022, inflation in Canada has reached 7.6 percent, the highest level in 40 years. Meanwhile, cryptocurrencies have not been caught as “inflation” this year, the total market value of digital assets has fallen by more than 60% since January.