Bitcoin-Friendly Poilievre Loses Position as Carney's Liberals Win 2025 Election
Canada's 45th election has proven to be a tense one as polls have narrowed in the days leading up to the end of campaigning.
Sam Reynolds | Edited by Nikhilesh De Updated April 29, 2025, 6:06 AM Published April 29, 2025, 4:26 AM
What you need to know:
- Pierre Poilievre lost his seat in parliament as Mark Carney's Liberal Party won enough seats to form at least a minority government.
- At the time of publication, the Liberals held about 162 seats, and CBC News reports that it is unclear whether the party will be able to form a majority or minority government.
- Cryptocurrency did not become a major issue in the Canadian elections, unlike its role in the recent US elections.
Bitcoin-backing Conservative leader Pierre Poilievre will no longer be part of parliament after losing his seat in an election in which Mark Carney's Liberal Party won enough seats to form at least a minority government.
Elections Canada data provided to the CBC shows Poilievre lost his Ottawa-area seat to Liberal Bruce Fanjoy on Monday night after a five-week election cycle launched by Carney, the current premier, last month.
As of 12:00 a.m. ET, the Liberal Party held about 162 seats, enough to form a minority government.
That's less than recent polls had predicted, which suggested Carney's Liberal Party could win a 172-seat majority in government given US President Donald Trump's threats to the country's sovereignty and the punitive tariffs the White House is directing north.
However, by midnight, CBC News noted that votes were still coming in and it was unclear whether the Liberals would win the seats they needed to form a majority government.
If the current results are consistent with the Westminster system, based on the U.K. model and in place in Canada, the Liberals will need the support of another opposition party, such as the separatist Bloc Québécois or the left-wing New Democratic Party, to pass bills in the House.
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