Venezuelan opposition leader proposes Bitcoin as a national reserve asset

María Corina Machado, a prominent opposition figure in Venezuela, has proposed a plan to adopt Bitcoin (BTC) as a national reserve asset.

In an interview with Alex Gladstein of the Human Rights Foundation on Thursday, he called the cryptocurrency a “lifesaver” and a “vital means of resistance” against the country’s economic collapse.

Bitcoin as a National Reserve asset

His proposal aims to address Venezuela’s inflation and financial instability, which he attributes to years of mismanagement by the governments of Hugo Chávez and Nicolás Maduro.

Machado’s plan mirrors a recent suggestion by former US President Donald Trump, who also advocated a similar Bitcoin reserve for the United States.

The 56-year-old stressed 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 of wealth as the country rebuilds after years of economic devastation.

He criticized the financial policies of both Chávez and Maduro: “This financial repression, rooted in state-sponsored looting, theft and uncontrolled money printing, crippled our economy despite our oil wealth,” he say

The politician noted that many citizens have turned to Bitcoin as a means of protecting themselves from the country’s volatile currency and government-controlled exchange rates. He said the use of 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,” he said.

The opposition leader believes adopting it as an internal 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 to rebuild what the dictatorship stole,” he said.

Rebuilding a New Venezuela

Machado also emphasized the determination of the people to restore democracy, acknowledging their long-standing efforts to challenge the regime.

He talked about using the technology as a tool to secure financial independence and aid in rebuilding a liberated country, stressing that Bitcoin donations and assets would be protected from government seizure, which which will make it a crucial part of his strategy for a peaceful transition away from the dictatorship. .

The former member of Venezuela’s National Assembly noted that her country’s currency has lost value dramatically, with inflation soaring to 1.7 million percent and causing essential prices to double almost every other day. Since 2016, inflation has exceeded 8 million percent, causing millions to flee for stability.

Looking to the future, he envisions Bitcoin playing a central role in his nation’s recovery, ensuring transparency, property rights and economic freedom.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!