https://cointelegraph.com/news/canadas-new-prime-minister-mark-carney-bitcoin-critic
created by GreedVault on 10/03/2025 at 10:16 UTC
17 upvotes, 14 top-level comments (showing 14)
Comment by BigBucket10 at 10/03/2025 at 12:10 UTC
15 upvotes, 0 direct replies
Okay but we all need to acknowledge this from time to time.
Comment by critiqueextension at 10/03/2025 at 10:22 UTC
21 upvotes, 2 direct replies
Mark Carney's criticism of Bitcoin as having 'serious deficiencies' stems from his concerns about its fixed supply leading to speculative mania, which he argues undermines its utility as a stable currency. Interestingly, while he opposes Bitcoin, he has supported the development of central bank digital currencies, suggesting a shift towards regulated digital alternatives that could address his concerns regarding cryptocurrencies. 1[1] 2[2]
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Comment by scoobysi at 10/03/2025 at 12:07 UTC
17 upvotes, 1 direct replies
In fairness he has had more positive stuff to say about crypto generally so hard not to see this as just a headline for bitcoin maxi tears
Comment by Kataclysmc at 10/03/2025 at 11:48 UTC
6 upvotes, 0 direct replies
It does
Comment by foreignGER at 10/03/2025 at 13:29 UTC
2 upvotes, 0 direct replies
everybody said that at one point....
Comment by BioRobotTch at 10/03/2025 at 10:36 UTC
8 upvotes, 3 direct replies
The guy was the head of both the Bank of Canada and the Bank of England. A committed central banker isn't going to value a store of value currency like a gold backed currency or bitcoin. His entire career has been justified in 'stablising' currencies while debasing them to the deteriment of the majority citizens of the country he served in because he believes deflation is a terrible thing, which it is for those who own assets and derive their income from them but not the the average citizen earning an income with a combination of work and ingenuity.
These guys believe the great depression was caused by the gold standard, not by the recently created federal reserve printing so many unbacked dollars that they created a massive asset bubble which of course popped causing a huge recession. They argue they should have instead printed even more unbacked currency than they did! It is logic turned on its head and a mad view of history.
Comment by buddhist-truth at 10/03/2025 at 16:06 UTC
1 upvotes, 0 direct replies
He knows one or two things about economics than Trump and his goons!
Comment by she_be_jammin at 10/03/2025 at 16:19 UTC
1 upvotes, 0 direct replies
it does. so?
Comment by redpigeonit at 10/03/2025 at 17:07 UTC
1 upvotes, 0 direct replies
Have you seen the chart lately?
Comment by DimensionTiny8725 at 10/03/2025 at 11:10 UTC
2 upvotes, 1 direct replies
What did trump once say?
Comment by Ninjanoel at 10/03/2025 at 11:18 UTC
0 upvotes, 0 direct replies
it's old technology, slow and expensive, obviously it has deficiencies.
Comment by Successful_Ad_380 at 10/03/2025 at 10:31 UTC
-3 upvotes, 0 direct replies
Of course he should be opposed to Bitcoin, he was the Governor of the bank of Canada. It is expected of these people.
Comment by coinfeeds-bot at 10/03/2025 at 10:20 UTC
-3 upvotes, 0 direct replies
tldr; Canada’s new prime minister, Mark Carney, a former central banker, has been a vocal critic of Bitcoin, citing its fixed supply cap as a cause of speculative mania and poor short-term value storage. Carney has supported central bank digital currencies for expanding banking access and combating economic crime. He replaces Justin Trudeau and has pledged to retaliate against U.S. tariffs imposed by Donald Trump, emphasizing Canada’s independence and economic resilience in his victory speech.
Comment by slykethephoxenix at 10/03/2025 at 11:01 UTC
-5 upvotes, 1 direct replies
He's not Prime Minister yet.