When María Corina Machado learned she had been awarded the 2025 Nobel Peace Prize, she was not surrounded by family or supporters, but confined to an undisclosed location in Venezuela, hiding from the very regime she has spent years challenging. The “Iron Lady of Venezuela,” as she’s often called, has become a symbol of both resistance and resilience in a country where the government’s grip has tightened with every passing year. According to Blockworks, Machado has survived assassination attempts and a kidnapping since the 2024 presidential election, which independent analysts agreed was won by the opposition but ultimately declared for incumbent Nicolás Maduro. Despite these dangers, Machado made the difficult decision to stay in Venezuela, even as she sent her three children abroad for their safety.
Her courage has not gone unnoticed. As the Nobel committee put it, “María Corina Machado has shown that the tools of democracy are also the tools of peace.” It’s a sentiment that resonates far beyond Venezuela’s borders, especially as the world grapples with the rise of authoritarianism and the erosion of democratic norms. But the story of Machado’s resistance is not just about political activism or defiance in the face of repression—it is also about innovation, adaptation, and the unexpected role of technology in the struggle for freedom.
One of the most striking aspects of Machado’s campaign has been her embrace of bitcoin. In a country where the government has “weaponized financial systems against its people,” as Machado told the Human Rights Foundation (HRF), traditional banking is all but impossible for opposition figures. The Venezuelan government’s deliberate hyperinflation, which peaked at an astonishing 10 million percent in 2018, and its repeated removal of zeros from the national currency—14 in total since 2008—have left citizens scrambling for alternatives. As one expropriated Venezuelan told Blockworks, “Holding a bag of candy was worth way more than having a bag of your national currency, because the candy could hold its value.”
For Machado and many others, bitcoin has become more than just a financial tool; it’s a lifeline. “Our campaign operates without banking access,” she explained. “Unlike bank wires, which the regime usually blocks, bitcoin donations cannot be seized.” This ability to bypass government-imposed exchange rates and financial surveillance has allowed Machado to continue her work from within Venezuela, while also enabling countless others to protect their savings or finance their escape from the country. “Bitcoin has evolved from a humanitarian tool to a vital means of resistance,” she said.
Jorge Jraissati of the Economic Inclusion Group echoed this sentiment, describing bitcoin as part of a “tech-based strategy” to combat authoritarianism. He believes that the key to defeating autocratic regimes lies in citizens’ access to “freedom technologies” like Bitcoin, Signal, and Nostr. These tools, he argues, have empowered Venezuelans to “overcome Maduro’s financial surveillance and repression.”
Alex Gladstein of the Human Rights Foundation put the issue in global perspective, estimating that “87% of humanity was born into either an authoritarian regime or a collapsing fiat currency.” For much of the world, he explained, “the legacy banking system simply does not work well enough anymore to fund democracy work.” Bitcoin, on the other hand, is “keeping resistance alive” in places where government-issued currency “cannot be used for essential human-rights activities.” Gladstein went so far as to suggest that bitcoin is on its way to becoming “a standard currency for human-rights activism and beyond by 2030.”
But the Nobel committee’s decision to honor Machado—and by extension, her embrace of bitcoin—has not been without controversy. According to a podcast episode discussed by Venezuela Analysis, Machado’s past includes participation in coup attempts and calls for foreign intervention against Venezuela. The podcast’s hosts, José Luis Granados Ceja and Andreína Chávez Alava, argue that her record “screams everything but ‘peace,’” especially as the U.S. has ramped up military threats against Caracas. This critique points to the complexities of Venezuela’s political landscape, where lines between activism, opposition, and foreign influence are often blurred.
Machado’s political stance is also notable. As reported by The Washington Times, she is a conservative traditionalist who opposes the radical socialism of the Venezuelan regime and supports the Trump administration’s policies in the Caribbean. While she has so far avoided commenting on the possibility of U.S. military intervention in Venezuela, her alignment with certain international actors has raised eyebrows both at home and abroad.
The political crisis in Venezuela is deeply entwined with its economic collapse. Despite being a major oil producer and receiving assistance from Cuba and Russia, Venezuela’s economy has been ravaged by mismanagement, corruption, and international sanctions. Drug trafficking has also become a significant issue, highlighted by recent U.S. attacks on Venezuelan fast boats carrying narcotics. The military, led by Defense Minister Vladimir Padrino Lopez, remains a key pillar of support for Maduro’s regime, even as opposition forces grow in strength and numbers.
The human cost of this crisis is staggering. Approximately 3 million Venezuelans have fled to neighboring Colombia, with the border town of Cúcuta now sheltering a quarter million refugees. Regional cooperation remains strong, anchored by agreements like the Inter-American Pact for Regional Security—known as the “Rio Pact”—signed in 1947. The legacy of U.S. involvement in the region, from the Monroe Doctrine to Cold War interventions, continues to shape the dynamics of Latin American politics.
For Machado, the Nobel Peace Prize is more than a personal honor—it’s a shield. “This raises her visibility and increases the cost of attempts to suppress and destroy her,” explained Gideon Rose of the Council on Foreign Relations in Blockworks. “By putting the sanction of benevolent international opinion on her efforts, [the Nobel] may protect her life.” There’s a sense that the world is watching, and that the prize may serve as a deterrent against further repression.
But the award’s significance extends beyond Machado herself. By recognizing a figure who has championed bitcoin as a tool of resistance, the Nobel committee has, in the words of Gladstein, helped “remove the blinders” from critics in the developed world who see cryptocurrency only as a speculative asset. In much of the world, bitcoin is not just an investment—it’s a means of survival, a way to fund activism, and, increasingly, a symbol of hope.
As Venezuela’s crisis continues and the struggle for democracy unfolds, Machado’s story is a reminder that the fight for freedom often requires both courage and creativity. Whether through traditional activism or the adoption of new technologies, the tools of resistance are evolving. And, as the Nobel committee has made clear, the world is paying attention.
