One of the largest political stories in the past couple of days is the fact that President Trump has chosen to officially recognize Juan Gaido as the interim president of Venezuela. Nicolas Maduro, who was serving as de facto president of the country for years now, has cut off all ties with the United States as a result, and ordered U.S. diplomats to leave within 72 hours.
Interestingly enough, it appears as though Juan Gaido, who has now been sworn into office, is a fan of none other than Bitcoin (BTC). In fact, before much of the world was even thinking about cryptocurrency, Gaido was tweeting about Bitcoin before much of mainstream media was even thinking about the digital asset.
For those who are unaware, Gaido is a 35-year old who has been at the head of the National Assembly for only three weeks, but whose popularity has risen as a result of the fact that he has been unafraid to call Maduro a “usurper”. He was raised in a coastal town, and previously worked as an industrial engineer.
He actually launched his own political party, the Voluntad Popular, with Leopoldo Lopez, a famous opposition leader that has been popular with Venezuelans for some time now. Lopez is considered to be Gaido’s mentor, and is currently under house arrest.
Could Bitcoin Help?
For those wondering how it is known that Gaido is interested in Bitcoin; there is the fact that he tweeted about the first Bitcoin exchange house in Venezuela back in 2014. This is quite substantial, as it was well before mainstream media was covering Bitcoin, and before many institutional players took the cryptocurrency markets seriously. You can find the tweet below:
@willgeneva Vía @Dossier33: Lanzan primera casa de cambio de Bitcoin en Venezuela http://t.co/O9uplEsEEw pic.twitter.com/R0BX8s5XQl
— Juan Guaidó (@jguaido) August 20, 2014
One of the largest issues with Venezuela’s economy is hyperinflation, which has made the fiat currency extremely volatile. As a result, many are turning to cryptocurrency, and believe that Bitcoin can be a potential solution. As a result, the country is now a huge market for cryptocurrency in general. In fact, the country is supposed to receive its first cryptocurrency ATM shortly.