Venezuelan Opposition Leader María Corina Machado Calls Bitcoin a “Lifeline” in Exclusive Interview

In an exclusive interview with Alex Gladstein, Chief Strategy Officer at Human Rights Foundation (HRF) Venezuelan opposition leader Maria Corina Machado discussed the vital role Bitcoin plays in combating economic collapse and authoritarianism in Venezuela. The interview, first published in Bitcoin Magazine, highlights the disastrous impact of hyperinflation caused by the Chavez and Maduro regimes, which has devastated the Venezuelan bolivar.

Machado noted that the bolivar had lost 14 zeros under Chavez and Maduro, with inflation soaring to 1.7 million percent in 2018. She described the economic devastation, saying: “This financial repression rooted in looting, theft and uncontrolled state-sponsored money printing” has crippled the economy despite Venezuela’s vast oil wealth.

During the interview, Gladstein highlighted 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 this, calling Bitcoin a “lifeline” for Venezuelans and a way to bypass government-controlled exchange rates. She suggested that Bitcoin be included in Venezuela’s future national reserves as the country seeks to recover its stolen wealth and rebuild from dictatorship.

“Bitcoin bypasses government-imposed exchange rates and helps many of our people,” Machado added. “It has evolved from a humanitarian tool to a vital means of resistance.”

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

Looking ahead, she envisions Bitcoin playing a key role in ensuring transparency, property rights, and economic freedom as part of Venezuela’s recovery plan, saying, “We envision 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 recognizing their victory can do so via HRF. here.