Justin Trudeau introduced his resignation as Canada’s Prime Minister, almost three years after what is called the “Freedom Convoy.” At the moment, the Canadian nationwide police ordered the freeze of thousands and thousands of {dollars} value of Bitcoin (BTC).
On February 14, 2022, Justin Trudeau invoked the Emergency Act, going through the “Freedom Convoy” protests associated to the COVID-19 pandemic. On February 16, 2022 Royal Canadian Mounted Police (RCMP) ordering all FINTRAC-regulated organizations in Canada to cease interacting with 34 Bitcoin wallets the world used to donate BTC to the protesting truckers.
As Finbold reported later that yr, these wallets obtained roughly 20 BTC, then value between $877,760 and $891,480. That is an estimated valuation contemplating Bitcoin’s opening and shutting value on February 16, starting from $43,888 to $44,574 per BTC.
Curiously, $1,000 donated in Bitcoin at this notorious day would have transferred between 0.02243460 and 0.02278527 BTC.
Bitcoin (BTC) value evaluation, 3 years after Trudeau’s ‘freedom convoy’
With BTC buying and selling round $101,750 on the time of this writing, the $1,000 in Bitcoin donated to Trudeau’s truckers’ frozen “Freedom Convoy” wallets would now be value from $2,282 to $2,318. Primarily, this is able to symbolize as much as 132% beneficial properties in three years.
Bitcoin has reached this value on January 6, 2025 after surging a powerful 4% within the intraday, renewing buyers’ optimism. Some analysts additionally imagine that BTC’s sudden value response may very well be a direct impact of Trudeau’s resignation.
On a broader evaluation, The Kobeissi Letter reported the Canadian Greenback itself surging in response to the political information. At posting time, the CADUSD pair surged by 0.35% from at present’s opening.
BREAKING: The Canadian Greenback is surging on experiences of Justin Trudeau resigning. pic.twitter.com/KPfc0q7919
— The Kobeissi Letter (@KobeissiLetter) January 6, 2025
With this vital shift, most monetary markets are bullish and see Justin Trudeau’s resignation as a net-positive occasion. Nonetheless, the true monetary penalties of this act are but to be seen as issues develop all through 2025.
Featured picture from Shutterstock
