Venezuelan Opposition Leader Proposes Bitcoin Reserve, Maduro Seeks to Restart Crypto
Venezuelan opposition leader Maria Corina Machado, who is contesting the recent election results that declared President Nicolas Maduro the winner, has proposed establishing a Bitcoin-based reserve.
In a recent interview with Alex Gladstein, Public Relations Director at the Human Rights Foundation, Machado addressed the economic challenges that Venezuela has faced, pointing to crises caused by hyperinflation and the sharp devaluation of the national currency, which has lost 14 zeros of its value.
Machado stressed that Bitcoin has been a lifeline for many Venezuelans, helping them protect their wealth, transfer it, and flee the country.
For his part, Venezuelan President Nicolas Maduro has indicated the possibility of restoring the role of cryptocurrencies in the country.
In a meeting with representatives from the banking sector, Maduro spoke about the importance of reconsidering the use of cryptocurrencies, especially after previous measures that affected trading platforms and mining initiatives.
Maduro explained that the world is moving towards a multi-currency model that includes the dollar, yuan, ruble, and rupee, in addition to cryptocurrencies.
