Canadian PM candidate has an offer that investors can't refuse
The plan included zero capital gains tax on reinvestment in Canada, zero sales tax on new homes, and income tax reduction by 15%, among other components.
The economic action plan shared by Poilievre got some members of the Canadian Bitcoin community excited.
Peter Todd, the Canadian software developer well known for being an early contributor to the development of Bitcoin, was particularly interested in zero capital gains tax.
'On second thought, yes I am Canadian, and yes I am Satoshi,' he wrote on X.
Todd's reference to him being Satoshi was a cheeky reference to a theory that he indeed is the pseudonymous developer of Bitcoin, Satoshi Nakamoto. An HBO documentary released in 2024, 'Money Electric: The Bitcoin Mystery,' that featured Todd proposed that he could be Satoshi. He denied it, saying the claim was "ludicrous."
Francis Pouliot, another Canadian Bitcoiner, also seemed excited by the prospect of zilch capital gains tax and sales tax on new homes. He wondered if selling stocks to buy Bitcoin in Canada and thereafter selling Bitcoin in Canada to buy a home in the country constituted reinvesting in Canada.
'These would be huge selling points for voters,' Pouliot said. The founder and CEO of Bull Bitcoin, he is an entrepreneur involved in building infrastructure for Bitcoin since 2013.
The federal election in Canada will be held on Apr. 28, in which Poilievre is running for the PM's position. He is the leader of the Conservative Party of Canada, who also serves as the leader of the Official Opposition.
Currently, the Liberal Party under the leadership of PM Mark Carney is in charge of the parliament.
Meanwhile, the tariff escalations by President Donald Trump led to a bitter trade spat between allies U.S. and Canada. The tariff tensions also had the crypto market stumbling for days.Bitcoin, the largest cryptocurrency, is yet to scale back to its pre-Apr. 2 — when Trump hiked tariffs — levels and was trading at $84,505.97 at press time as per Kraken's price feed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
8 minutes ago
- Business Insider
Bitget Lists NERO Chain (NERO) for Spot Trading with 65M in Token Rewards
Seychelles, Victoria, July 28th, 2025, Chainwire Bitget, the leading cryptocurrency exchange and Web3 company, has announced the listing of NERO Chain (NERO) in the Innovation and Public Chain Zone, adding it for spot trading. Trading for the NERO/USDT pair will begin on 28 July 2025, 7:00 (UTC), with withdrawals available from 29 July 2025, 8:00 (UTC). Alongside the listing, Bitget will launch a CandyBomb campaign with 65,000,000 NERO available in rewards. Of this, 7,500,000 NERO will be allocated to the NERO, ETH and SUI trading pool, 15,000,000 NERO in the NERO trading pool, while 42,500,000 NERO will be up for grabs in the ETH and SUI trading pool. The campaign will run from 28 July 2025, 7:00 till 4 August 2025, 7:00 (UTC). NERO Chain is a modular blockchain designed to prioritize value creation for applications rather than relying solely on infrastructure-level storage. It redefines traditional blockchain economics by enabling dApps to capture and share transaction value, ensuring that developers and users benefit directly from an application's success, rather than value accruing solely to the base layer. Fully EVM-compatible and built on a high-performance settlement layer, NERO offers powerful scalability and flexibility. Features like native account abstraction, gas sponsorship through paymasters, and cutting-edge innovations such as Blockspace 2.0 provide developers with a seamless and efficient building experience. Bitget continues to expand its offerings, positioning itself as a leading platform for cryptocurrency trading. The exchange has established a reputation for innovative solutions that empower users to explore crypto within a secure CeDeFi ecosystem. With an extensive selection of over 800 cryptocurrency pairs and a commitment to broaden its offerings to more than 900 trading pairs, Bitget connects users to various ecosystems, including Bitcoin, Ethereum, Solana, Base, and TON. The addition of NERO into Bitget's portfolio marks a significant step toward expanding its ecosystem by advancing privacy-focused infrastructure and enabling seamless migration of Web2 applications into the Web3 space through scalable, developer-friendly solutions. For more details on NERO, visit here. About Bitget Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 120 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real-time access to Bitcoin price, Ethereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a leading non-custodial crypto wallet supporting 130+ blockchains and millions of tokens. It offers multi-chain trading, staking, payments, and direct access to 20,000+ DApps, with advanced swaps and market insights built into a single platform. Bitget is driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM markets, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency. Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. In the world of motorsports, Bitget is the exclusive cryptocurrency exchange partner of MotoGP, one of the world's most thrilling championships. For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet For media inquiries, please contact: media@ Risk Warning: Digital asset prices are subject to fluctuation and may experience significant volatility. Investors are advised to only allocate funds they can afford to lose. The value of any investment may be impacted, and there is a possibility that financial objectives may not be met, nor the principal investment recovered. Independent financial advice should always be sought, and personal financial experience and standing carefully considered. Past performance is not a reliable indicator of future results. Bitget accepts no liability for any potential losses incurred. Nothing contained herein should be construed as financial advice. For further information, please refer to our Terms of Use.
Yahoo
24 minutes ago
- Yahoo
$9 Billion Exit by Satoshi-Era BTC Whale Sparks Debate: Are Bitcoin OGs Losing Faith?
Bitcoin's identity crisis came roaring back into focus this weekend after Galaxy Digital (GLXY) announced that it had facilitated a $9 billion sale of more than 80,000 bitcoin for a Satoshi-era investor. The firm said the sale — one of the largest notional BTC transactions ever — was part of the seller's estate planning strategy. The transaction was immediately seen as symbolic. For some, it marked a practical rebalancing. For others, it was a worrying sign that even Bitcoin's earliest believers are cashing out. Crypto analyst and commentator Scott Melker fanned the flames with a sharply worded post on X. 'Bitcoin is amazing,' he wrote on July 26. 'But it's obviously been co-opted to some degree by the very people that it was created as a hedge against. Many of the most ardent early whales have seen their faith shaken and have been selling at these prices.' The comment kicked off a fierce debate that spanned crypto influencers, traders, and ideologues — many of whom disagreed over what the whale's exit meant, and whether Melker's framing was accurate. Some Dismiss the Concern Critics of Melker's interpretation argued that one transaction — egardless of size — doesn't signify ideological abandonment. They noted the sale was explicitly tied to estate planning, not a loss of conviction. Others pointed out that wallet movements can be misleading, and selling doesn't automatically mean an investor has given up on the asset long term. Some community members even called the remark speculative, pointing to OGs like Adam Back and others who continue to accumulate. Melker later clarified that he was 'just pointing out what I've been hearing,' not declaring his own view. Others See a Pattern Supporters of Melker's take saw the whale's exit as emblematic of a broader shift. With Bitcoin increasingly absorbed into traditional finance — via ETFs, corporate treasuries, and custody solutions — some worry that the asset has drifted from its cypherpunk roots. To this group, Bitcoin's transformation into a tradable, regulated, and largely off-chain instrument is a distortion of its founding vision. If early believers are losing interest, they argue, it may be a symptom of Bitcoin becoming less about individual sovereignty and more about financial engineering. Bitcoin's Open-Access Design Defended Another group pushed back against the premise that institutional involvement amounts to ideological failure. In their view, Bitcoin's value lies in its neutrality — its rules apply to everyone, whether it's retail users or Wall Street funds. Censorship resistance, not exclusion, is the foundation. These commentators argued that the rise of ETFs and custodial adoption was inevitable, and even necessary, if Bitcoin is to achieve broad monetary relevance. From this perspective, whale exits are simply a part of maturing capital flows — not a sign of philosophical surrender. Questions About Security and Use The debate also triggered deeper concerns about Bitcoin's function. If most BTC is held as a passive store of value and rarely transacted, how will the network continue to be secured post-halving? With mining rewards falling and on-chain usage declining, some worry that transaction fees alone may not sustain network integrity in the long run. A Telling Moment While Melker's post didn't move markets, it did spotlight a critical question: What does it mean when early believers sell? Is it a warning signal, or a natural redistribution? A loss of faith — or a sign of progress? Galaxy's $9 billion transaction offered no definitive answers. But the reactions that followed revealed just how unsettled Bitcoin's evolving role remains. Between the vision it was born from and the institutions now shaping it, the ideological rift is no longer theoretical — it's playing out in real time. Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Bitcoin Hits $1T Realized Cap as Price Holds Above $118K After $9B BTC Sale by Satoshi-Era Whale
Bitcoin continues to trade above the $118,000 mark, holding steady after a week of significant institutional developments and a landmark milestone in on-chain metrics. According to CoinDesk Data, BTC was last up 1.45% over the past 24 hours, bringing its 30-day gain to 10.42% and lifting its year-to-date performance to more than 26%. Blockchain analytics firm Glassnode highlighted in its latest "Week On-chain" report that July has brought one of the strongest upside breakouts of the year. After dipping to around $105,400 earlier in the month, bitcoin surged to an all-time high of $122,700 before settling into a consolidation phase just below that level. The report noted that this price rally triggered substantial profit-taking from long-term holders while also drawing in new buyers, leading to a sustained inflow of capital into the asset. The result is that bitcoin's realized capitalization — a measure of the total value of coins based on the last time they were moved — has now surpassed $1 trillion for the first time. Unlike market capitalization, which reflects current price multiplied by total supply, realized cap tracks the actual liquidity deployed into bitcoin over time. Glassnode says this milestone reflects growing conviction among both long-term holders and new entrants, and signals a deepening of the asset's liquidity base. The on-chain analytics firm also claims that this points to bitcoin's growing role on the macroeconomic stage, with the ability to absorb and settle ever larger volumes of capital. On Friday, Mike Novogratz's Galaxy Digital (GLXY) announced in a press release "the successful execution of one of the largest notional bitcoin transactions in the history of crypto on behalf of a client." Galaxy said that it had executed a more than $9 billion bitcoin transaction on behalf of a legacy investor from the early days of the network. The 80,000 BTC sale is one of the largest of its kind in crypto history and was reportedly part of the client's estate planning. Meanwhile, on Friday, CNBC resurfaced a detail from Tesla's second quarter of 2022 earnings filings, which disclosed that the company had converted approximately 75% of its bitcoin into fiat currency during that quarter. With bitcoin hovering around $118,000 on Friday morning, David Faber, a "Squawk on the Street" co-host, estimated that had Tesla held onto its full bitcoin holdings, the value of its BTC holdings would now exceed $5 billion — four times higher than its reported valuation of $1.25 billion as of the most recent quarter. Of course, this is the same kind of criticism that has been aimed at the German government for selling its bitcoin holdings too early. In June and July 2024, the German authorities liquidated nearly 50,000 BTC seized from a film piracy case, netting roughly $2.9 billion at an average price around $57,900 per coin. At the time, officials justified the move by citing legal obligations to avoid potential loss in value and quickly liquidate seized assets. However, in hindsight, this strategy has come under fire as the value of bitcoin soared in the following year. On May 19, crypto market intelligence platform Arkham noted on X that those same coins would have been worth more than $5.24 billion had the German government held on to them, meaning it missed out on over $2.35 billion in potential gains. Critics argue that the sale not only left a fortune on the table but also contributed to short-term price pressure on the entire bitcoin market. Technical Analysis Highlights According to CoinDesk Research's technical analysis data model, during the 23-hour session ending July 26 at 14:00 UTC, the digital asset rallied more than 3%, carving out a $3,300 trading range between $114,937 and $118,237. Support has remained firm in the $117,140–$117,330 zone, while resistance appears to be consolidating just below the $118,200 threshold. The final hour of trading saw modest gains of 0.07% as BTC climbed from $118,095 to $118,183, with tight-range consolidation suggesting continued buying interest just below psychological resistance. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
