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Showing posts from October, 2022

HighPierreInflation: Prices Double for Poilievre's Bitcoin Bros

On 28 March 2022, Pierre Poilievre  stated: “The Trudeau government is ruining … the Canadian dollar, so Canadians should have the freedom to use other money, such as Bitcoin…Choice and competition can give Canadians better money and… let Canadians opt-out of inflation with the ability to opt-in to crypto currencies.” https://web.archive.org/web/20221003183845/https://www.pierre4pm.ca/make_canada_the_blockchain_capital_of_the_world Poilievre put his money where his mouth was on March 28 and used a restaurant bitcoin machine to buy a shawarma . What has happened to those who tried to opt out of inflation in Canadian dollars by using bitcoin to pay for daily living expenses? April was the first full month that someone could have followed Poilievre's " opt out of inflation with bitcoin" example. September is the latest month in Statistics Canada's Consumer Price Index (CPI) report. The number of bitcoins needed to pay for CPI items jumped by 103.6% in the five months fr