Bitcoin advocate Machado in running to replace Venezuela’s Maduro

**Venezuelan President Nicolás Maduro Captured: Opposition Leader María Corina Machado Emerges as Key Figure in Transition**

Following the capture of Venezuelan President Nicolás Maduro on Saturday, international attention has shifted to Venezuela’s transition to new leadership. Among the frontrunners to lead this change is María Corina Machado, a prominent Venezuelan opposition leader and winner of the Nobel Peace Prize in 2025.

Machado is currently the second-favorite to steer Venezuela away from authoritarian rule under Maduro, who has been transferred to New York to face federal charges related to narcotics trafficking and corruption. According to data from the prediction market Kalshi, Machado holds a 28% chance of leading Venezuela by the end of 2026. She trails just behind Edmundo González Urrutia of the Unitary Platform, who has a 32% chance. González Urrutia is widely believed to have won Venezuela’s May 2025 election, but was blocked from assuming the presidency by Maduro’s United Socialist Party.

In third place is Vice President Delcy Eloína Rodríguez, Maduro’s former running mate, who was appointed acting president by Venezuela’s Supreme Court following Maduro’s capture, holding a 27% chance on Kalshi.

**US Involvement and Political Uncertainty**

US President Donald Trump stated that the United States would oversee Venezuela until new leadership is firmly established, adding uncertainty to the country’s short-term outlook.

**A Vision for a Machado-Led Venezuela**

Should Machado lead Venezuela, there is optimism about restoring basic human rights and political freedoms. Additionally, Venezuela might see a sharp pivot towards free-market reforms, including the adoption of Bitcoin (BTC) as an alternative to the Venezuelan bolivar. Since Maduro took office in 2013, the bolivar has lost over 99.99% of its purchasing power, leading many Venezuelans to seek alternatives.

**Bitcoin: A Lifeline During Hyperinflation**

Machado, a known advocate of Bitcoin, spoke with the Human Rights Foundation’s Chief Strategy Officer, Alex Gladstein, in late 2024. She envisioned making Bitcoin a national reserve asset and promoting its adoption as a comprehensive payments solution.

“Venezuelans found a lifeline in Bitcoin during hyperinflation, using it to protect their wealth and to finance their escape,” Machado said. “It has evolved from a humanitarian tool to a vital means of resistance. We are grateful for the lifeline Bitcoin provides and look forward to embracing it in a new democratic Venezuela.”

Since 2013, over 8 million Venezuelans have fled the country. Crypto has become one of several essential tools for sending money back to families left behind.

**Trump’s Skepticism of Machado’s Leadership**

Kalshi’s market briefly showed Machado overtaking González’s odds on Saturday, but this changed after Trump publicly expressed doubts about her leadership. He said, “I think it would be very tough for her to be the leader. She doesn’t have the support within or the respect within the country. She’s a very nice woman, but she doesn’t have the respect.”

However, Trump’s assessment faces opposition from various political analysts familiar with Venezuela’s dynamics. Liz Rebecca Alarcón, founder and CEO of Project Pulso, told ABC that Machado already has overwhelming support within Venezuela and amongst the diaspora.

“We also want our will as Venezuelans inside and outside of the country to be respected and that will is for Maria Corina Machado and Edmundo González Urrutia to eventually take hold,” Alarcón said.

**Machado’s Controversial Election Ban**

Machado was expected to defeat Maduro in the 2025 election but was controversially barred from running by the Supreme Court on grounds of alleged administrative irregularities and purported violations of electoral law.

**Maduro’s Regime and Bitcoin Mining Crackdowns**

The United Socialist Party, now led by acting President Delcy Rodríguez, has a record of shutting down Bitcoin mining operations across Venezuela, often citing illegal power use or missing permits.

Following Maduro’s capture, the Trump administration engaged in talks with Rodríguez. Initially, she appeared willing to cooperate but later retracted, denouncing Maduro’s arrest as an “illegal kidnapping” and the US operation as a breach of Venezuelan sovereignty.

Trump responded bluntly, warning Rodríguez: “If she doesn’t do what’s right, she is going to pay a very big price, probably bigger than Maduro,” speaking to The Atlantic on Sunday.

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*Related: [Bitcoin price $90K breakout hangs in balance as US storms Venezuela]*
https://cointelegraph.com/news/nobel-prize-winning-bitcoiner-in-running-to-replace-maduro

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