Juan Guaido, the apparently pro-Bitcoin leader of the Venezuelan opposition to Nicolas Maduro’s presidency, made secret trips abroad in order “to brief [foreign] officials” on his plan to hold mass protests during start of Maduro’s second term as president, according to a report in the Associated Press (AP).

The Venezuelan opposition figure has suddenly rocketed to international acclaim in the past week, after swearing himself in as president of the country in a direct flouting of Maduro at the front of large anti-government protests – which have been met with pro-government rallies.

Guaido met with officials from the US and from the Lima Group, in order to drum up support for the fractious opposition – according to an unnamed Canadian official quoted by the AP, it is “the first time in at least five years the opposition has shown an ability to come together in any meaningful manner.”

The trips have apparently paid off, as support for Guaido quickly poured in from right-wing governments in Latin America, in what the Financial Times called an “apparently co-ordinated move.” Guaido’s gambit has quickly divided world opinion; some like the US are fully supporting the opposition leader as de jure president, while the EU is calling for new elections within eight days, disregarding last year’s presidential election which was boycotted by the opposition.

Russia has derided the move as an attempt by the US to exact regime change on Venezuela, in an emergency UN Security Council meeting. Indeed, US president Trump startled observers in 2017 by saying that the “military option” against Maduro’s government was not off the table.

 

 

Bitcoin to Save Venezuela?

It has recently been reported in crypto-media that Juan Guaido is a fan of Bitcoin, as indicated by a tweet he sent four years ago:

 

Venezuela has been a hotbed for crypto activity. The Maduro government attempted to launch the state backed Petro IRC-20 token, which is meant to eventually handle all hydrocarbon trade. Guaido however has dismissed  the Petro, claiming it’s just Maduro’s way of “cheating the people.”

There hasn’t been much information about actual use of the Petro, and the government recently fixed its priced at $150 per coin. This struck observers as odd, because the coin is meant to be pegged to one barrel of oil – far below that mark. The US has banned its citizens from transacting with the cryptocurrency, in addition to the numerous other sactions already in place on the country.

More positively, the peer-to-peer bitcoin exchange LocalBitcoins has recently enjoyed enormous usage in the economically beleaguered Latin American state. The first bitcoin ATMs are set to go live in Venezuela within about a week.

Venezuela is recognized as having the largest proven petroleum reserves in the world.