Venezuelan Opposition Leader Proposes Bitcoin as National Reserve Asset
María Corina Machado, a leading figure in Venezuelas opposition, has proposed a plan to adopt Bitcoin (BTC) as a national reserve asset.
In an interview with Alex Gladstein from the Human Rights Foundation on Thursday, she called the cryptocurrency a lifeline and a vital means of resistance against the countrys economic collapse.
Bitcoin as a National Reserve Asset
Her proposal seeks to address Venezuelas inflation and financial instability, which she attributes to years of mismanagement by the governments of Hugo Chávez and Nicolás Maduro.
Machados plan mirrors a recent suggestion by former U.S. President Donald Trump, who also advocated for a similar Bitcoin reserve for the United States.
The 56-year-old emphasized that the cryptocurrency could play a crucial role in the countrys recovery, not only as a tool to escape hyperinflation but also as a safeguard for wealth as the country rebuilds from years of economic devastation.
She criticized the financial policies of both Chávez and Maduro, This financial repression, rooted in state-sponsored looting, theft, and unchecked money printing, crippled our economy despite our oil wealth, she said.
The politician pointed out that many citizens have turned to Bitcoin as a means to shield themselves from the countrys volatile currency and government-controlled exchange rates. She said that using the cryptocurrency has allowed citizens to protect their wealth and, in some cases, finance their escape from the country.
Bitcoin bypasses government-imposed exchange rates and helps many of our people It has evolved from a humanitarian tool to a vital means of resistance, she stated.
The opposition leader believes adopting it as a domestic reserve asset could help the South American country recover its stolen wealth and support its poorest citizens.
We envision Bitcoin as part of our national reserves, helping rebuild what the dictatorship stole, she said.
Rebuilding a New Venezuela
Machado also highlighted the peoples resolve to restore democracy, acknowledging their long-standing efforts in challenging the regime.
She spoke on the use of technology as a tool to secure financial independence and aid in rebuilding a liberated country, emphasizing that Bitcoin donations and assets would be protected from government seizure, making it a crucial part of her strategy for a peaceful transition away from dictatorship.
The former deputy of the National Assembly of Venezuela pointed out that her countrys currency has drastically lost value, with inflation soaring to 1.7 million percent and causing essential prices to double almost every two days. Since 2016, inflation has surpassed 8 million percent, prompting millions to flee for stability.
Looking toward the future, she envisions Bitcoin playing a central role in her nations recovery, ensuring transparency, property rights, and economic freedom.
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