Poilievre's Bitcoin Adventure: 2023 Year in Review
In 2023, the annual inflation rate for Canadians using bitcoin-linked credit cards to pay for all purchases fell from 104.6% in January to -58% deflation (falling prices) in December. Pierre Poilievre touted “digital currencies … giving people an opportunity to protect themselves against inflation” (Sept. 11, 2021) and “the freedom to use other money, such as Bitcoin… let Canadians opt-out of inflation.” (March 28, 2022) Bitcoin is a speculative asset that may or may not generate future investment profits. Bitcoin is not now and almost certainly never will be “better money” than the Canadian dollar for everyday transactions and keeping accounts. For those still using Canadian dollars, #JustinFlation averaged 3.9% for all of 2023 down from 6.8% in 2022 vs. HighPierreDeflation averaging -5.4% (falling prices) in 2023 down from #HighPierreInflation of 78.7% in 2022 for Canadians using bitcoin to pay for all purchases.
