Venezuelan Opposition Leader María Corina Machado Calls Bitcoin a ‘Lifeline’ in Exclusive Interview

In an exclusive interview with Alex Gladstein, Chief Strategy Officer of the Human Rights Foundation (HRF), Venezuelan opposition leader María Corina Machado discussed Bitcoin’s vital role in combating economic collapse and authoritarianism in Venezuela. The interview, first published on Bitcoin Magazine, highlights the catastrophic impact of hyperinflation caused by the Chávez and Maduro regimes, which have devastated the Venezuelan bolivar.

Machado noted that under Chávez and Maduro, the bolivar lost 14 zeros, with inflation reaching 1.7 million percent in 2018. She described the economic destruction, declaring: “This financial repression is rooted in looting, theft and uncontrolled printing by money. ” crippled the economy despite Venezuela’s vast oil wealth.

During the interview, Gladstein pointed out how some Venezuelans have turned to Bitcoin as a way to escape hyperinflation, protect their wealth and finance their escape from the country. Machado echoed that, calling Bitcoin a “lifeline” for Venezuelans, a way to bypass government-controlled exchange rates. She proposed including Bitcoin in Venezuela’s future national reserves as the country tries to recover its stolen wealth and rebuild from dictatorship.

“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,” Machado said.

Machado also spoke of the Venezuelan people’s determination to reclaim democracy, noting their historic efforts to confront the regime. She welcomed the use of technology like Bitcoin to ensure financial autonomy and help rebuild a new free Venezuela.

Looking ahead, she sees Bitcoin as playing a key role in ensuring transparency, property rights and economic freedom as part of Venezuela’s recovery plan, stating: “We see Bitcoin as part of our national reserves, helping to rebuild what the dictatorship stole”.

Those interested in supporting the Venezuelan opposition party’s efforts for a peaceful transition and recognition of their victory can do so through FRH here.