Venezuela Ready to Receive $1 Million in Bitcoin for Aid Amid Uncertainty About Maduro’s Future

Venezuela was once one of the richest countries in Latin America and could have become one of the richest in the world. However, socialist and communist policies implemented since Hugo Chávez came to power dozens of years ago. When Chavez died in 2013, Nicolás Maduro took the power and accelerated the transformation of the country into a new socialist disaster.

Venezuela Is In A Constant Crisis

Nowadays, the majority of the Venezuelans are in poverty – 90% of them are. Most of the people are not able to purchase meat or food. There is a lack of medicines and basic goods that can only be purchased in the black market or crossing to Colombia or Brazil.

Due to the hard situation experienced by Venezuela and the people living in the country, several charitable initiatives started to surge around the world trying to help Venezuelans. Moreover, individuals in the country started using virtual currencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) or Dash (DASH). This has helped them earn some extra funds or purchase some of the goods that were only available in the black market.

According to some reports, the cryptocurrency wallet and platform AirTM and the crypto artist Cryptograffiti decided to start a new campaign to raise $1 million to help Venezuelans in need. The so-called Airdrop Venezuela is currently led by Steve H. Hanke who is trying to increase the usage of virtual currencies among native citizens of Venezuela.

This campaign has been collecting donations from all over the world and in different virtual currencies. Apparently, 100% of the donations received are sent to Venezuelan recipients. It is also very important to understand that there are some rumors spreading regarding a military action from countries in South America such as Colombia and Brazil or the United States. Nevertheless, country leaders have already mentioned that this is something that is not going to happen and that the problems that Venezuela has should be solved by Venezuelans themselves.

Maduro has already rejected humanitarian help that tried entering the country from different boundary nations. Citizens in the country are protesting against the illegitimate government and trying to support Juan Guaidó, who has been elected as president of Venezuela by the National Assembly.

Venezuela has also a problem with inflation. There are some reports that show that the country could experience inflation of more than 10,000,000 in the near future. Thus, the local currency is worth nothing.

According to the official site of Airdrop Venezuela, the funds will be used to rebuild local daycare centers. Moreover, 50% of the proceeds will be distributed for the conclusion of the [Airdrop Venezuela] campaign in April.