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Bitcoin (BTC) has scored a major win in broader society, as one of the world’s most prestigious awards has been given to a Bitcoiner. Venezuelan leader María Corina Machado has been awarded the Nobel Peace Prize for the role she has played in her country.
Bitcoin as symbol of economic freedom and human rights
As highlighted by Bitwise Advisor Jeff Park, this is the first time that the recipient of the peace prize is going to be a Bitcoin advocate. Machado’s award comes in recognition of her efforts to seek a better life for millions of Venezuelans who have openly supported the flagship cryptocurrency asset.
Notably, the country has faced economic challenges and spiraling inflation that have reduced the value of fiat currency. According to Machado, BTC has supported many families in the country to protect their wealth from the effects of crippling hyperinflation.
Machado also relied on the digital currency to fund her leadership aspirations when banking access was restricted. She maintained that the asset, which started as a humanitarian tool in her country, has now evolved into a necessity for most citizens.
Machado says she "envisions Bitcoin as part of the national reserve that will help rebuild the country." Machado has publicly described Bitcoin as a "lifeline" for Venezuelans who rely on it for remittances.
According to Jeff Park, the award to someone who identifies with BTC is of great symbolic importance to the digital asset community. He stated that "Bitcoin IS human rights," implying that the digital asset grants economic freedom and protection from government control.
Park maintains that these are fundamental human rights, and Bitcoin adoption supports these visions. His tone appears to suggest more adoption of the digital asset, as it liberates people economically.
BTC price outlook in one year
Interestingly, El Salvador, another Latin American country, has embraced Bitcoin and integrated it into its economic framework. Almost a year ago, the country’s president, Nayib Bukele, lauded Bitcoin in a post on X that elicited a reaction from tech billionaire Elon Musk.
Bukele had listed Bitcoin as one of the positive highlights of the country in its recovery journey.
When Bukele made that post in October 2024, BTC was exchanging at around $71,000 per coin. As of press time, Bitcoin is changing hands at $120,464.66, which represents over 90% growth in price over a one-year period.
This is one of the reasons Bitcoin continues to gain acceptance as an asset to store value and a hedge against inflation.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team