Mark Carney, the former central banker and critic of Bitcoin, was elected Canada’s new prime minister on March 9 after confirming he renounced his UK and Irish citizenships.
He succeeds Justin Trudeau, who served for over seven years. Carney, who previously governed the Bank of Canada and the Bank of England, has been vocal about his skepticism towards Bitcoin, particularly criticizing its fixed supply for creating deficiencies in monetary systems.
“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 warned in a speech on the future of money. He also dismissed Bitcoin as an unreliable store of value, pointing to its extreme volatility as a major drawback.
In the same paper, during his time as Bank of England governor, Carney advocated for central bank digital currencies (CBDCs), suggesting they could provide broader financial access and aid in combating economic crimes. Interestingly, he also served on the board of Stripe from 2021 to early 2025, during which the payments firm integrated various crypto-payment solutions.
Carney’s stance on digital assets appears even stricter than that of his predecessor, Justin Trudeau. In 2022, Trudeau criticized opposition leader Pierre Poilievre’s pro-crypto platform as “reckless,” saying that promoting cryptocurrency to escape inflation was not responsible leadership.
In his victory speech, Carney aimed at US President Donald Trump over recent trade measures, accusing him of attempting to undermine Canada’s economy.
“Donald Trump has put unjustified tariffs on what we build, sell, and how we make a living,”
Carney stated, vowing that Canada would not back down. He confirmed that the Canadian government had already retaliated with its tariffs and would maintain them until the US administration showed “proper respect.”
He also dismissed Trump’s past remarks about Canada potentially becoming America’s 51st state.
“Canada will never be part of America in any way, shape, or form,”
Carney declared.
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