Things are heating up at the moment between Venezuela and Guyana. The cause ? Nicolas Maduro wants to recover Essequibo, a territory handed over to the British in 1899 following a “biased” decision by the judges of the time. Leaded by a monster inflation, Venezuela must find other alternatives to get its economy back up and running. And if it has to go throughannexation of 2/3 of Guyanawhere oil and other mineral resources lie, you might as well go straight ahead.
Soon a referendum on Essequibo
With its colossal energy resources (coal, hydrocarbons, uranium, etc.), theRussia quickly understood that bitcoin mining would be beneficial to it as the most sectioned country in the world. And her efforts seem to be paying off given that she currently occupies the second place among BTC mining superpowers.
As for Venezuela, currently holding 1/5e of the world’s crude oil reserves, this option was unfortunately ruled out by those in power. For now, Maduro government focuses on expanding its territory.
“ Guyana discovered in the Essequibo oil reserves greater than those of Kuwait and the United Arab Emiratesbut Venezuela claims that the Essequibo region belongs to it, while a court ruling declared that it belongs to Guyana.
Guess which country is on its way to ‘HELP’ resolve a potential conflict?
The USA. »
Lately, the presses have echoeda referendum during which Venezuelans will have to decide on the case of Essequibo. In the event of a YES victory, the inhabitants of this territory formerly belonging to Venezuela will be granted Venezuelan citizenship. And at the same time, they will see the creation of the department of “Guyana Esequiba”.
Why annex a territory of 160,000 km2 when Maria Corina Machado, Maduro’s main opponent, is against it? Why call into question the jurisdiction of the International Court of Justice (ICJ), and consequently the UN?
Actually, ” it contains oil and mineral deposits and rich hydrographic basins “, precise France 24.
This long Twitter thread from Louis Duclosgeopolitical analyst, will certainly teach you much more about Maduro’s motivation and the dynamics of this annexation of Essequibo.
Venezuela and bitcoin, a difficult symbiosis?
The top 10 countries most affected by inflation CNews puts Venezuela in first position. With a price increase of around 430% in April 2023 (234% in 2022 and 686.4% in 2021), the current president, Nicolas Maduro, is increasingly contested by his people. Polls give him very little chance of winning the 2024 presidential elections.
And yet, other neighboring countries experiencing the same problems, such as Argentina, do not hesitate to use cryptocurrencies to deal with inflation. With a new anti-system president newly elected as its head, Javier Milei, this Latin American country expects that other alternatives like bitcoin (and the dollar) can pull them out of the mud.
Can Venezuela find salvation in bitcoin? El Salvador, the first country to legalize the queen of cryptocurrencies, is not far away. And the Maduro government can learn from its experiences. Unless he persists in his policy promoting “ 21st century socialism » initiated by the late president Hugo Chavez, who died in 2013. In this case, his financial policeman Sunacrip will continue to impose increased surveillance of cryptocurrency transactions.
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