According to CoinDesk, one year ago, Canadian Prime Minister Justin Trudeau criticized opposition leader Pierre Poilievre's suggestion for Canadians to invest in bitcoin (BTC) as 'not responsible leadership.' However, despite market-shaking events and a deep crypto winter, Poilievre's advice appears to have been sound. Over the past year, bitcoin has increased by approximately 15%, outpacing inflation rates of 6.5% in the U.S. and 6.8% in Canada, as well as the S&P 500.

The CoinDesk Currency Select Index (CCYS) and the CoinDesk Currency Index (CCY) also showed positive gains after inflation, with CCYS up 14.8% on-year and CCY up 13% on-year. However, some tokens, such as Decentraland's MANA and Axie Infinity's AXS, experienced significant declines, dropping 65% and 70%, respectively. Binance-linked BNB fell 30%, and ether (ETH) slumped 8%.

Despite Trudeau's disapproval of crypto, several Liberal Members of Parliament own digital assets. According to the Office of the Conflict of Interest and Ethics Commissioner, half a dozen bi-partisan Canadian Members of Parliament and civil servants have held some form of digital asset holdings at one time. Digital asset ownership is evenly split between the Liberal and Conservative Parties, with Liberal MPs such as Chandrakanth 'Chandra' Arya and Joël Lightbound owning bitcoin, ether, and various funds and ETFs. Vancouver MP Taleeb Farouk Noormohamed disclosed ownership of bitcoin, ether, and stacks (STX), the native token of Stacks Network, a bitcoin layer-2 that extends the Bitcoin network's functionality for Ordinals, similar to non-fungible tokens (NFTs).