Bitcoin Skeptic Mark Carney Becomes Canada’s Prime Minister: Details

Canada has a new prime minister, and he is no friend to Bitcoin. Mark Carney, a former central banker with a long history of skepticism toward cryptocurrency, won a landslide victory on March 9. He took over from Justin Trudeau, who led the country for more than seven years.

Carney, who previously served as governor of both the Bank of Canada and the Bank of England, has been outspoken against Bitcoin for years. As far back as 2018, he criticized Bitcoin’s fixed supply, calling it a “criminal act of monetary amnesia” and comparing it to the gold standard—a system he believes led to economic instability in the past.

Carney’s Long-Standing Opposition to Bitcoin

Throughout his career, Carney has argued that Bitcoin is a poor store of value, citing its price volatility as a major flaw. In one of his past speeches, he noted how a £1,000 student loan taken in Bitcoin could fluctuate wildly in value, making it unreliable for day-to-day use.

While he has dismissed Bitcoin, Carney has been a strong advocate for central bank digital currencies (CBDCs). He has championed their potential to increase financial access, combat economic crime, and strengthen monetary policy tools for governments.

However, his stance on crypto is not entirely black-and-white. Between 2021 and 2025, Carney served on the board of Stripe, a major payment processor that integrated several crypto-friendly solutions between 2022 and 2024. This suggests he may not oppose all aspects of digital assets—just decentralized ones like Bitcoin.

Tensions Between Canada and the U.S. Over Tariffs

Beyond his stance on crypto, Carney has wasted no time addressing international trade tensions. In his March 9 victory speech, he took direct aim at U.S. President Donald Trump, accusing him of hurting Canadian families with new tariffs.

“Donald Trump has put unjustified tariffs on what we build, sell, and how we make a living,” Carney declared, vowing that Canada would not back down. He supported the Canadian government’s counter-tariffs, insisting they will stay in place until the U.S. shows proper respect.

Carney also responded to Trump’s past comments about making Canada the 51st U.S. state, stating, “Canada will never be part of America in any way, shape, or form.”