[NEWS] Trudeau announces resignation; cryptocurrency advocate Poirievre is a leading candidate for the next prime minister

On the 6th, Canadian Prime Minister Trudeau announced his intention to step down and resign as leader of the ruling Liberal Party. He will continue to serve as both Prime Minister and Party Leader until a new leader is decided.

Prime Minister Trudeau took office in November 2015 and has been running the government for over nine years. However, his approval rating has been low due to soaring prices of goods and housing. In addition to the difficulty of preparing for the general election to be held by October this year, he decided to step down after succumbing to pressure from both inside and outside the party to resign.

Currently, the Liberal Party led by Prime Minister Trudeau is a minority party, and cooperation with the opposition party will be essential for the new government. On the other hand, the largest opposition party, the Conservative Party, received 45% support in a public opinion poll last December, far exceeding the Liberal Party's approval rating of 16%. Therefore, under the current circumstances, it is highly likely that the Conservative Party will gain a large number of seats and make a big advance in the general election.

If a change of government were to occur, the leading candidate for prime minister would be Pierre Poilievre, leader of the Conservative Party. He is known as a supporter of crypto assets, having previously stated that he would make Canada the capital of cryptocurrencies and blockchain.

It has also been revealed that Poilievre holds the Purpose Bitcoin ETF, offered by Purpose Investments, a Canadian asset management company. As he also supports individuals owning Bitcoin, his inauguration as prime minister after the general election would be a positive thing for the Web 3.0 industry.

In addition, Polymarket, a decentralized prediction market, has already begun predicting who will succeed Trudeau. At the time of writing, 88% of users predicted that Poilievre would win, far ahead of the other candidates.

Source: Polymarket
Image: Shutterstock

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