María Corina Machado, a prominent Venezuelan opposition leader, has suggested adopting Bitcoin (BTC) as a national reserve asset. In an interview with Alex Gladstein from the Human Rights Foundation on Thursday, she described the cryptocurrency as a “lifeline” and a “vital means of resistance” against Venezuela’s economic collapse.
### Bitcoin as a National Reserve Asset
Her proposal aims to tackle Venezuela’s inflation and financial instability, which she blames on years of mismanagement by the governments of Hugo Chávez and Nicolás Maduro. Machado’s plan echoes 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 country’s 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, stating, “This financial repression, rooted in state-sponsored looting, theft, and unchecked money printing, crippled our economy despite our oil wealth.” The politician pointed out that many citizens have turned to Bitcoin as a means to shield themselves from the country’s volatile currency and government-controlled exchange rates. She noted 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 Bitcoin 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 people’s 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 country’s 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 nation’s recovery, ensuring transparency, property rights, and economic freedom.
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