The new leader of the Conservative Party, Pierre Poilievre, said earlier this year that he thinks bitcoin is a good way to beat inflation.
On Monday, Canadian Prime Minister Justin Trudeau said that the opposition party was wrong to tell people to invest in bitcoin to fight inflation.
“Telling people they can avoid inflation by investing in cryptocurrencies is not responsible leadership,” Trudeau tweeted, calling the opposition’s economic ideas reckless and questionable.
Trudeau’s criticism comes after Pierre Poilievre, a pro-bitcoin veteran lawmaker, was chosen as the new leader of the Conservative Party, which is Trudeau’s main rival in Canada.
Early this year, Poilievre criticized Trudeau for putting $400 billion into the economy, which he said caused inflation. Poilievre backed the use of so-called alternatives to fiat currencies, such as Bitcoin Recommended.
People who like Bitcoin have said for a long time that its scarcity would help investors keep the value of their money when inflation is high. Even though inflation has been very high this year, the market value of Bitcoin has dropped by half to $427 billion.
