Bitcoin once helped many Venezuelans survive one of the worst economic collapses in modern history. Now, opposition leader María Corina Machado believes it could one day help rebuild the country itself.
Machado has long talked about Bitcoin as more than just a digital asset. She sees it as protection against government failure—and possibly a foundation for Venezuela’s future recovery. Over the years, she has said that crypto gave ordinary people a rare way out when the state-controlled economy was falling apart.
As Venezuela’s currency collapsed, the bolívar lost 14 zeros since 1999. Savings were wiped out. Inflation ran wild. Capital controls made it nearly impossible to move money. Banks were tightly monitored. In that chaos, Machado said Bitcoin became a lifeline.
In 2024, she explained how Bitcoin allowed people to avoid government-set exchange rates and protect their money. In some cases, she said, it even helped families recover wealth they thought was gone forever.
“We see Bitcoin as part of our national reserves,” Machado said at the time. “A tool to help rebuild what the dictatorship stole.”
Those comments came during another wave of unrest after Venezuela’s disputed July 2024 presidential election.
Today, the situation is even more dramatic. Nicolás Maduro, who claimed a third term despite losing heavily to opposition candidate Edmundo González, has now been arrested following a U.S. military operation.
On Monday, January 5, Maduro’s vice president and oil minister, Delcy Rodríguez, was sworn in as interim president. Still, U.S. President Donald Trump has said the United States is now “in charge” of Venezuela following Maduro’s capture.
Under Maduro’s rule, Venezuela’s economy continued to collapse. The government cracked down on crypto platforms like Binance, limiting access for everyday users. It also quietly abandoned its own state-backed cryptocurrency, the Petro, after years of scandals and failures.
As the system broke down, Bitcoin and other digital assets stepped in. In 2023, opposition leader Leopoldo López said crypto—especially stablecoins—helped people get around banking controls and wild currency swings. During the pandemic, digital assets were even used to deliver aid to about 65,000 healthcare workers.
Now, with Maduro reportedly captured by U.S. forces on January 3, 2026, crypto is back in the conversation. Prediction markets like Kalshi currently give Machado about a 27% chance of leading Venezuela by the end of 2026.
That said, Machado still faces major obstacles. She was barred from running in the 2024 election after Venezuela’s Supreme Court upheld a 15-year political ban against her. The Maduro government accused her of administrative violations and supporting foreign sanctions—claims she says are purely political.
International groups including the Organization of American States, the European Union, and Human Rights Watch strongly condemned the ban, calling it an attempt to block the leading opposition figure and undermine democracy.
Now that Maduro is reportedly being held in a New York City prison on narco-terrorism charges, one big question remains unanswered: will the ban against María Corina Machado finally be lifted?
If it is, Bitcoin and crypto could once again play a key role—not just in helping Venezuelans survive, but in helping them rebuild.
