María Corina Machado, opposition leader against Venezuelan President Nicolás Maduro, proposes adding Bitcoin to the national treasury.
In an interview with Bitcoin Magazine, Venezuelan opposition leader María Corina Machado announced a plan to adopt Bitcoin as a national reserve asset.
During the interview with Alex Gladstein, Chief Strategy Officer of the Human Rights Foundation, Machado discussed Bitcoin’s potential to address Venezuela’s economic issues. According to Machado, the Venezuelan bolívar has suffered severe devaluation due to the financial mismanagement of former President Hugo Chávez and current President Nicolás Maduro.
For years, the Venezuelan bolívar has experienced extreme hyperinflation, reaching five-digit percentages and causing daily price increases. The country’s economic situation has led to significant emigration among Venezuelans seeking new opportunities.
Bitcoin in the national Treasury
According to Machado, Bitcoin could be a fundamental asset in rebuilding the country’s wealth and supporting economically disadvantaged citizens while reinforcing property rights.
During the interview, Machado stated:
“Bitcoin is a lifeline and a vital means of resistance for many Venezuelans during periods of hyperinflation.”
Machado also highlighted Bitcoin’s properties as an unconfiscatable asset and an uncensorable payment method, recalling how her political campaign has been deprived of the use of bank accounts.
