The Liberal Party of Canada has declared that Mark Carney, a former central banker and critic of Bitcoin, is the new prime minister, set to tackle recently imposed tariffs by the US.
Carney secured his position on March 9 in a decisive vote, filling the role previously held by Justin Trudeau for over seven years.
From 2008 to 2013, Carney served as the governor of the Bank of Canada before moving to the Bank of England, where he held the governor position for another seven years. He announced to local media on March 1 that he was in the process of renouncing his UK and Irish citizenships.
Source: Liberal Party of Canada
Carney has been critical of Bitcoin (BTC) since at least March 2, 2018, claiming that Bitcoin’s capped supply leads to “serious deficiencies.”
“If ‘those who cannot remember the past are condemned to repeat it,’ recreating a virtual global gold standard would be a criminal act of monetary amnesia.”
He further noted that the fixed supply of Bitcoin has fostered a global speculative craze, resulting in the rise of numerous cryptocurrencies.
Carney also remarked that Bitcoin and other cryptocurrencies had demonstrated to be “ineffective short-term stores of value.”
“If you had taken out a 1,000-pound student loan in Bitcoin last December to cover your sterling living expenses for the upcoming year, you’d now be 500 pounds short. Conversely, if you’d done the same last September, you’d be 2,000 pounds up. That’s quite a gamble.”
In the same address, Carney advocated for central bank digital currencies, suggesting they could enhance banking accessibility for a greater number of individuals and businesses, and assist central banks in combatting terrorism and economic crime.
It’s worth noting that Carney served on the board of payments processing company Stripe from February 2021 to January 2025. During his tenure, Stripe rolled out various cryptocurrency payment solutions between 2022 and 2024.
His criticisms of Bitcoin and cryptocurrencies seem even more pronounced than those of Trudeau, who once labeled opposition leader Pierre Poilievre’s pro-crypto stance as “reckless.”
“Advising individuals to escape inflation through cryptocurrency investments is not responsible leadership,” Trudeau stated in September 2022.
Carney intends to stand up to Trump regarding tariffs
In his victory speech on March 9, Carney criticized US President Donald Trump for “attacking Canadian families” by imposing tariffs that could damage Canada’s economy.
“Donald Trump has placed unjustified tariffs on our products, sales, and livelihoods,” Carney asserted.
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Carney remarked that the Canadian government has “rightly retaliated” with its own tariffs, which he indicated would stay in effect until “the Americans show us the respect we deserve.”
Mark Carney delivering his victory speech on March 9. Source: Cable Public Affairs Channel
He emphasized that Canada “will never be a part of America in any way, shape, or form” — a direct response to Trump’s aspiration of making Canada the 51st US state.
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