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Canadian Prime Minister Justin Trudeau's resignation has positioned Pierre Poilievre, leader of the Conservative Party, as the front-runner for the upcoming federal election. Poilievre has garnered significant support from the cryptocurrency community, including endorsements from Elon Musk and Coinbase CEO Brian Armstrong, for his advocacy of Bitcoin and opposition to central bank digital currencies. Meanwhile, Vancouver City Council is exploring the possibility of holding Bitcoin in reserve and accepting cryptocurrency for municipal services.
Canadian Prime Minister Justin Trudeau announced his resignation, paving the way for Conservative leader Pierre Poilievre, who is gaining significant support from the cryptocurrency community. Poilievre advocates for Bitcoin adoption and has been endorsed by figures like Elon Musk and Coinbase CEO Brian Armstrong. Vancouver's city council is also exploring holding Bitcoin in reserve and accepting cryptocurrency for municipal services, reflecting a growing trend towards digital currency in Canada.
BTCS Inc. has seen a significant revenue boost from its Ethereum block building initiative, Builder+, prompting H.C. Wainwright to raise its price target from $3.00 to $5.00 while maintaining a Buy rating. The company generated 541 ETH in just six weeks of the December quarter, compared to 217 ETH in the entire September quarter, reflecting a 61.78% revenue growth over the past year. Additionally, BTCS has introduced new communication channels and launched ChainQ, a blockchain analytics platform, while adjusting its compensation strategy to include equity issuance.
Matador Technologies, a Canadian crypto firm, plans to adopt Bitcoin as a treasury reserve asset, starting with a $4.5 million purchase. The company, which aims to launch a platform for trading digital representations of gold by early 2025, has seen its stock price drop 35% since its recent debut on the TSX Venture Exchange. Meanwhile, Bitcoin's price has fallen below $93,000, marking its lowest point in nearly a month, as market conditions shift.
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