Liberal MP Joel Lightbound made an unexpected endorsement of Bitcoin during Tuesday’s session in the House of Commons, contrary to past denouncements of the cryptocurrency by the Liberal government.
The Quebec MP highlighted how Bitcoin can help people in tough financial situations and those living under oppressive regimes.
He encouraged everyone, especially progressives, to study Bitcoin, stating that it represents a progressive idea.
“Over the last decade, we have seen Bitcoin empower the underbanked, as well as those living in oppressive regimes,” Lightbound explained.
“Women, for instance, use Bitcoin all over the world to evade unjust restrictions on their financial freedoms. It has also helped thousands of families avoid the tragedy of currency debasement.”
Lightbound clarified that while he’s not telling people to buy Bitcoin, he’s urging them to learn more about it.
“In full disclosure, while I do own Bitcoin, I am not advocating for anyone to buy it, but I do advocate for everyone to study it, progressives in particular, because, after all, Bitcoin was born in the midst of the great financial crisis as an alternative to big banks, greed, and the system that never failed to bail them out. It stands for a truly progressive ideal,” Lightbound stated.
This endorsement of Bitcoin stands in contrast to the criticism the Liberals have directed at Conservative leader Pierre Poilievre, who has previously praised the digital currency.
Last year, Prime Minister Justin Trudeau criticized Poilievre’s suggestion that Bitcoin could be used as a hedge against inflation.
“We’ve made every effort to work with all Parliamentarians over the years, and we’ll continue to do so. But we’ll also call out questionable, reckless economic ideas – because Canadians deserve responsible leadership,” said Trudeau.
“Telling people they can opt out of inflation by investing in cryptocurrencies is not responsible leadership.”
Poilievre has been an outspoken supporter of Bitcoin, even pledging to make Canada a blockchain hub while he ran for the party’s leadership.
“Government policies are harming the Canadian dollar, so Canadians should have the option to use other currencies, like Bitcoin,” Poilievre stated during a rally last year.
This is not the first time MP Lightbound has strayed from his party’s stance on certain issues, last year he voted in support of a Conservative motion to end Covid-19 restrictions and mandates.