Venezuela’s Opposition Leader Proposes Bitcoin as a National Reserve Asset
María Corina Machado, a prominent figure in Venezuela’s opposition, has put forward a plan to embrace Bitcoin (BTC) as the country’s national reserve asset.
In an interview with Alex Gladstein from the Human Rights Foundation, she described Bitcoin as a “lifeline” and a “vital means of resistance” against the nation’s economic collapse.
Machado’s Plan
Machado’s proposal aims to tackle Venezuela’s rampant inflation and financial instability, which she attributes to years of mismanagement by the governments of Hugo Chávez and Nicolás Maduro.
- She believes Bitcoin can play a crucial role in the country’s recovery, serving as a tool to escape hyperinflation and safeguard wealth.
- She criticizes the financial policies of previous regimes, stating that “This financial repression, rooted in state-sponsored looting, theft, and unchecked money printing, crippled our economy despite our oil wealth.”
- Machado points out that many Venezuelans have turned to Bitcoin to protect themselves from the country’s volatile currency and government-controlled exchange rates.
- She highlights that Bitcoin has become a tool for citizens to protect their wealth and, in some cases, finance their escape from Venezuela.
- She envisions Bitcoin as a key component of Venezuela’s national reserves, contributing to the rebuilding of the country’s economy.
Machado’s plan echoes a previous suggestion by former U.S. President Donald Trump, who also advocated for a similar Bitcoin reserve for the United States.
Rebuilding a New Venezuela
Machado emphasizes the importance of technology in securing financial independence and aiding in rebuilding a liberated Venezuela. She believes that Bitcoin donations and assets would be protected from government seizure, making it a vital part of her strategy for a peaceful transition away from dictatorship.
Looking ahead, Machado envisions Bitcoin as a cornerstone of Venezuela’s recovery, ensuring transparency, property rights, and economic freedom.
