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- Mark Carney views Bitcoin’s fixed supply as a serious flaw, making it rigid in responding to economic changes.
- The National Bank of Canada divested Bitcoin-related assets, reflecting growing caution about cryptocurrency volatility amid political and financial uncertainty.
After years of leadership, Justin Trudeau has handed over the baton to Mark Carney. Officially chosen as the new Liberal Party leader, the former governor of the Bank of Canada and Bank of England will also be Prime Minister of Canada.
Along with altering the political scene of the nation, this shift affects the financial policies and economic sector as well as the government’s stance toward Bitcoin and other digital assets.
Mark Carney’s Bitcoin Skepticism and Its Policy Implications
Mark Carney is well-known to have a skeptical view of Bitcoin and cryptocurrencies overall. He has underlined the main flaws of this digital resource several times. He claims that the set supply rule of Bitcoin is a “serious deficiencies” that renders it rigid in handling economic dynamics. Moreover, he claimed that in the near run, Bitcoin and other cryptocurrencies are inadequate stores of value.
LATEST: THE LIBERAL PARTY OF CANADA HAS ANNOUNCED MARK CARNEY AS CANADA’S NEW PRIME MINISTER, REPLACING JUSTIN TRUDEAU.
HE ONCE SAID THAT “THE FIXED SUPPLY RULES OF CRYPTOCURRENCIES SUCH AS BITCOIN ARE SERIOUS DEFICIENCIES.”
Source: Cointelegraph pic.twitter.com/4VrefimD3f
— Mario Nawfal’s Roundtable (@RoundtableSpace) March 10, 2025
Carney’s position runs rather counter to the growing surge of crypto acceptance. Regarding the crypto community, his comment could indicate that future Canadian policies on digital assets could be stricter.
On the other hand, the situation also begs the issue: will Carney advocate a compromise so that the digital financial sector might keep expanding without compromising economic stability, or will he bring tougher rules?
National Bank of Canada Offloads Bitcoin ETF Amid Uncertainty
Besides that, the National Bank of Canada has been known to sell its Bitcoin-related assets and registered paperwork with the SEC in the United States to divest its BlackRock iShares Bitcoin Trust ETF holdings valued at more than $1.3 million, as we previously reported.
The action reveals the growing caution Canadian financial institutions show about the volatility of Bitcoin and other cryptocurrencies.
More than just a corporate policy, this choice also captures the uncertainty engulfing Canada right now—political and financial. Canada is now at a significant junction in deciding its economic future with Trudeau’s resignation and a change of leadership.
Crypto Scams Are Rising, Governments Are Taking Action
Another equally concerning problem has surfaced among the discussion on sustainability and control of cryptocurrencies: crypto investment frauds. Securities authorities in Alberta and New Brunswick recently issued warnings about a fraud known as “CanCap,” which targets investors with increasingly advanced techniques.
In response to US tariffs, the program employs fake news stories purporting to show former Prime Minister Justin Trudeau supports cryptocurrency investments. Of course, this is only a deft ploy meant to draw victims.
According to the Better Business Bureau, scams involving cryptocurrencies are now rather frequent in Canada. Many people have lost thousands of dollars after falling for frauds on social media that claim large returns by means of fake videos. This phenomenon reveals that irresponsible parties still take advantage of gaps behind the fast expansion of the crypto market.
