Bitcoin

Canada’s Mad Max Supports Bitcoin –

Maxime Bernier, a former cabinet Minister and leader of the People’s Party of Canada(PPC), supports bitcoin and other cryptocurrencies. He said that he hates how central banks destroy our economy and money. Cryptos are an innovative and new way to combat this.

Max’s Support for Bitcoin and Crypto Maxime Bernier, founder and leader of the People’s Party of Canada has publicly supported cryptocurrency and bitcoin. He is a former Canadian foreign minister whose supporters have nicknamed “Mad Max.”

According to an EKOS poll, the PPC has 9% support nationally, which is higher than the Green Party but well below Justin Trudeau’s Liberal Party and Erin O’Toole’s Conservative Party, each with around 30%.

Bernier tweeted Tuesday:

Many people are asking if I support bitcoin and cryptos. Yes, I do.

He continued: “I hate how central bankers are destroying our economy and money.”

He continued: “I’m more of an old-fashioned gold & silver fan, but cryptos are another new and innovative way to counter this that should be encouraged.”

Bernier has long been vocal in criticizing how his government’s policies hurt the economy and the people. On June 9, he commented on the Bank of Canada holding the current level of the policy rate, tweeting: “Yes, continue to print money, debase the dollar, force all prices higher, impoverish the poorest, fund Trudeau’s gigantic deficit, distort the economy, fuel the housing bubble, and artificially boost the stock market, you moronic Keynesian bureaucrats.”

In August last year, he tweeted in response to the news of the U.S. Federal Reserve making a major commitment to ramping up inflation. He wrote:

These crazy Keynesian bureaucrats will do everything to dilute the purchasing power of your dollars and make you poorer.

He noted at the time that “The Bank of Canada studied the same policy some years ago and may implement it too.”

What do you think about Bernier’s comments and his support for bitcoin and cryptocurrencies? Comment below to let us know your thoughts about Bernier’s comments and his support for bitcoin and cryptocurrencies.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to sell or buy any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

Bitcoin

Bitcoin Demand Shows Signs of Cooling as Whale and ETF Purchases Halve: Cryptoquant

Bitcoin demand growth is decelerating after a rally toward $112,000, with key indicators signaling a potential slowdown phase, according to a new Cryptoquant Institutional Insights report. Profit-Taking Dominates Futures Market Amid Bitcoin Slowdown Cryptoquant’s analysis reveals bitcoin spot demand continues expanding but at a sharply reduced pace…
Read More

Bitcoin

Bitcoin Price Watch: Bulls Eye $108K as Momentum Builds Across Lower Timeframes

Bitcoin is trading at $105,971 to $106,032 over the last hour, with a market capitalization of $2.10 trillion and a 24-hour trading volume of $21.88 billion. During the past 24 hours, the price has fluctuated between $104,004 and $106,450, reflecting a narrow intraday range that coincides with ongoing technical indecision across broader timeframes…
Read More

Bitcoin

XCN defies Bitcoin and Ethereum slump with 97% spike

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure. The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier. Tariffs and other market conditions weigh on investor sentiment. Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins…

Onyxcoin (XCN) has risen 97% in the past 24 hours as altcoins enjoy massive buying pressure.
The XCN price bucks the trend that saw Bitcoin and Ethereum down after notable gains a day earlier.
Tariffs and other market conditions weigh on investor sentiment.

Onyxcoin (XCN) has defied a dip for Bitcoin, Ethereum, and top altcoins with an impressive 97% over the past 24 hours.

In a price rally that put it on top of the daily gainers’ list, XCN shot up to an intraday high of $0.017.

The performance bucks the downward pressure that has seen Bitcoin (BTC) and Ethereum (ETH) pare gains from a day ago with dips below $80k and $1.5k, respectively.

XCN price performance

The XCN token’s standout performance sees it outpace Flare, Kaspas, and Walrus, among other notable gainers.

According to data from CoinMarketCap, XCN is currently trading at $0.017, with its volume up 1,230%.

The token’s market, though tiny at $531 million, is up 97% and puts Onyxcoin in the top 100 by market cap.

XCN has flipped Floki and CORE, which currently rank 100th and 99th by market cap, respectively.

Onyxcoin’s massive spike comes despite a broader risk market downturn in the past 24 hours.

BTC, ETH, and other coins’ dip has seen the global cryptocurrency market cap drop by 3.9% to $2.52 trillion.

Volume is down 20% to about $127 billion as crypto mirrors losses on Wall Street.

Overall market outlook

Crypto and the stock market rose sharply on Wednesday after US President Donald Trump changed his tariffs stance.

His announcement of a 90-day pause sent risk assets skyrocketing, with Bitcoin’s price breaking to above $82k.

S&P 500 and the Dow Jones Industrial jumped, rising by historic single-day gains.

However, the S&P 500 and Dow opened lower on Thursday and looked to close lower with 3.2% and 2.4 %, respectively.

Dow was down more than 900 points.

On Thursday, Trump announced an additional 25% tariff on China, bringing this to 145%.

After excluding it from the 90-day pause, analysts say the trade war will continue to hurt optimism.

This looks to be the case as stocks sold off despite the latest inflation report that showed CPI dropped to 2.4% against an expected 2.6%.

While this sees many turn to the Federal Reserve for expectations of interest rate cuts, analysts are pointing to “sticky” prices and tariff impact for likely pressure on equities and crypto. Analysts point to a potential bull trap.

Peter Schiff said via a post on X:

“I’ve never seen such a mass selloff of US assets. The US dollar, bonds, and stocks are all getting killed. I can’t remember when the dollar lost 3.5% against the Swiss franc in one day. America’s ride on the global gravy train is about to come to a screeching halt. Buckle up.”