Exclusive interview with Alex Gladstein Chief Strategy Officer at the Human Rights Foundation (HRF), Venezuelan opposition leader María Corina Machado discussed Bitcoin’s vital role in combating Venezuela’s economic collapse and authoritarianism. 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 bolívar.
Machado noted that under Chávez and Maduro, the bolívar has lost 14 zeros, with inflation skyrocketing to 1.7 million percent in 2018. She stated that the economy was destroyed. “This financial repression rooted in state-sponsored looting, theft, and unchecked money printing” Venezuelan oil riches have not been able to boost the economy.
Gladstein, in an interview with Gladstein, emphasized that some Venezuelans used Bitcoin to fund their escape, escape hyperinflation or protect their assets. Machado called Bitcoin an “unstable currency” and echoed Gladstein’s comments. “lifeline” for Venezuelans, a way to bypass government-controlled exchange rates. She suggested including Bitcoin as part of Venezuela’s national reserves in the future, when the country is trying to recover the stolen wealth it has lost and rebuild after the 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 stated.
Machado praised the Venezuelans for their determination to recover democracy. He also cited the historic struggle they have undertaken against the dictatorship. She applauded the use of Bitcoin technology to help ensure financial independence and rebuild a free Venezuela.
She believes that Bitcoin will play a major role in the recovery of Venezuela, as it ensures transparency, economic freedom, and property rights. “We envision Bitcoin as part of our national reserves, helping rebuild what the dictatorship stole.”
Those interested in supporting the Venezuelan opposition party’s efforts for a peaceful transition and the recognition of their victory can do so via the HRF here.
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Source: bitcoinmagazine.com
