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. The economic damage was described by Machado. “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 “a” “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 spoke also of Venezuelans’ determination to restore democracy and their historical efforts against the regime. She applauded the use of Bitcoin and other technology to guarantee financial Autonomy and helping to rebuild a free Venezuela.
In the future she sees Bitcoin as a crucial tool in helping to ensure transparency, rights of property, and economic liberty, all part of Venezuela’s recovery plan. “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.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com