María Corina Machado Proposes Bitcoin (BTC) Adoption as a National Reserve Asset in Venezuela

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

A prominent figure in Venezuela’s opposition has proposed adopting Bitcoin (BTC) as a national reserve asset amid the country’s ongoing economic crisis.

María Corina Machado, a former deputy in the National Assembly of Venezuela, discussed the matter in an interview with Alex Gladstein from the Human Rights Foundation on Thursday.

Describing Bitcoin as a “lifeline” and a “vital means of resistance” in the face of Venezuela’s economic collapse, Machado highlighted the role of the cryptocurrency in helping citizens navigate hyperinflation.

Her proposal appears to align with a recent suggestion by former U.S. President Donald Trump, who advocated for a similar Bitcoin reserve for the United States.

Highlighting the impact of years of mismanagement by the governments of Hugo Chávez and Nicolás Maduro, Machado attributed Venezuela’s inflation and financial instability to unchecked money printing.

“This financial repression, rooted in state-sponsored looting, theft, and unchecked money printing, crippled our economy despite our oil wealth,” she said, criticizing the financial policies of both Chávez and Maduro.

According to Machado, many citizens have turned to Bitcoin in response to the country’s volatile currency and government-controlled exchange rates, using it to shield themselves from the economic hardships.

“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.

As the politician pointed out, the use of Bitcoin by citizens has enabled them to protect their wealth and even finance their escape from the country in some cases.

She noted that people are able to safeguard their savings and property rights thanks to the cryptocurrency, which also aids in the peaceful transition away from dictatorship.

Machado further expressed her belief that adopting Bitcoin as a domestic reserve asset could aid in recovering the South American country’s stolen wealth and supporting its poorest citizens.

“We envision Bitcoin as part of our national reserves, helping rebuild what the dictatorship stole,” she said.

Highlighting the people’s enduring efforts in challenging the regime to restore democracy, Machado also spoke on the use of technology as a tool to secure financial independence and aid in rebuilding a liberated country.

She emphasized that Bitcoin donations and assets would be protected from government seizure as part of her strategy for a peaceful transition away from dictatorship.

The former deputy 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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