Venezuelan opposition leader María Corina Machado highlighted the critical role of Bitcoin in Venezuela's economic collapse and its struggle against the authoritarian regime.

Machado pointed out that under the administrations of Chávez and Maduro, the bolívar lost 14 zeros and reached an inflation level of 1.7 million percent in 2018. She summarized the economic devastation as, "This financial pressure, based on state-supported looting, theft, and uncontrolled money printing, has paralyzed the economy despite Venezuela's vast oil wealth."

Bitcoin saves lives

Gladstein highlighted that some Venezuelans are turning to Bitcoin to protect their wealth and fund their escape from the country. Machado called Bitcoin a "lifesaver" for Venezuelans and said Bitcoin plays a critical role as a way to circumvent government-controlled exchange rates. He also proposed the inclusion of Bitcoin in national reserves in the process of recovering Venezuela's stolen wealth and post-dictatorship reconstruction.

Machado said, "Bitcoin allows us to surpass the government-imposed exchange rates and helps many of our people... Bitcoin has evolved from a humane tool to a vital tool of resistance."

Machado also mentioned the determination of Venezuelans to regain democracy, praising their historic struggle against the regime. She highlighted the importance of technologies like Bitcoin in providing financial autonomy and rebuilding Venezuela.

Machado, expressing that Bitcoin will play an important role in ensuring transparency, property rights, and economic freedom in Venezuela's recovery plan, said, 'We see Bitcoin as part of our national reserves in the way of reclaiming what the dictatorship has stolen'.