Machado drives crypto adoption in Venezuela

After Venezuelan President Nicolás Maduro was captured on Saturday, focus turned to who would then lead the country. María Corina Machado, a prominent advocate of Bitcoin, is a key figure in this shift. 

The Venezuelan opposition leader and winner of the 2025 Nobel Peace Prize is a second-favorite to lead Venezuela away from Maduro’s authoritarian rule. Maduro has been moved to New York to face federal charges for narcotics trafficking and corruption. 

According to predictions by Kalshi, a market platform, Machado is expected to garner 28% of Venezuela’s vote by the end of 2026. She’s somewhat behind Edmundo González Urrutia of the Unitary Platform, who has a 32 percent chance. 

González Urrutia is widely believed to have won the country’s May 2025 election but was barred from taking office by the United Socialist Party of Venezuela, led by Maduro. Third is Vice President Delcy Eloína Rodríguez, a former running mate of Maduro, who has a 27% chance. After Maduro was captured, the Supreme Court named Rodríguez acting president.

US President Donald Trump said the US would oversee Venezuela until a new power is in place, raising a question mark over the country’s near-term future. 

If María Corina Machado leads, Venezuela could eventually enjoy fundamental human rights and political freedoms. The nation could also step up free-market reform by using Bitcoin (BTC $93,210) as an alternative to the Venezuelan bolívar, which has lost over 99.99% of its value since Maduro took office in 2013.

Machado drives crypto adoption in Venezuela

María Corina Machado is well-acquainted with Bitcoin, having long seen it as more than just a currency — but as a means of survival, self-determination, and empowerment. In a 2024 conversation with Human Rights Foundation strategist Alex Gladstein, she outlined proposals to adopt Bitcoin as a national reserve asset and promote its use in everyday transactions.

During Venezuela’s hyperinflation, the widespread adoption of Bitcoin was largely driven by its use by many people to protect their savings and make ends meet, enabling them to support their families. What started as a humanitarian solution has evolved into a crucial instrument of economic resilience — one that a future democratic Venezuela would seamlessly integrate into its financial system. 

With more than 8 million Venezuelans fleeing the country since 2013, cryptocurrency has become vital for remitting money back home, as well as managing one’s own finances effectively. The Machado-led revolutionary government could institutionalize this stage of adopting new technology by creating an environment in which cryptocurrencies are used as currency in some markets (financial assets), supported for both local and international uses.

Her rise marks a historic moment for the global crypto community: the potential for a great nation to adopt digital assets at a state level, legitimize them, and encourage others to do the same. Machado’s presidency could turn Venezuela into a model for crypto-powered economic resiliency and innovation.

Trump questions Machado’s ability to lead Venezuela

US President Donald Trump, however, doubts whether María Corina Machado can steer Venezuela out of Maduro’s rule. While Machado briefly surpassed Edmundo González Urrutia in Kalshi forecasts, Trump stated that she did not have the support or respect necessary to govern effectively. Yet analysts contend she already enjoys robust support from Venezuelans within the country as well as outside. 

Key to Trump’s challenge is Vice President Delcy Rodríguez, who is now also the leader of Venezuela’s United Socialist Party; the party run by President Maduro. Rodriguez initially said she would try to work with the U.S., then changed tack, describing Maduro’s arrest as all wrong and warning that there would be terrible consequences for a wrong move.

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