In this episode, Maciej Cepnik sits down with Javier Bastardo, a Venezuelan journalist for Forbes, comms/PR at Bitfinex, and founder of Satoshi in Venezuela, for a firsthand look at Venezuela’s breaking point and what comes next, and what it means for Bitcoin.

00:02 Javier’s background
00:58 Journalism → Forbes → Bitfinex / Satoshi in Venezuela
02:56 Leaving Venezuela in 2023
06:20 How do Venezuelans leave the country
14:02 Waking up to the Caracas bombing news / first reactions
21:14 The uncomfortable part: anti-war instincts vs no other way.
22:26 What Chavismo actually is and how it took root
30:51 Venezuela was rich, so why did people feel poor?
34:26 Maduro era: oil, corruption, inflation as control
38:20 Transition phase: why the opposition can’t just take over
47:27 Oil endgame and geopolitics
56:46 Venezuela’s crypto reality: USDT dominance, Binance P2P, remittances
01:08:20 Petro + state BTC stash rumors
01:16:45 Investing in Venezuela: opportunity vs uncertainty
01:22:07 Why crypto companies should hire Venezuelans

Follow Javier on X: @criptobastardo
Follow Maciej Cepnik on X: @CepnikMaciej
Follow Aureo on X: @AureoBitcoin

Buy and sell Bitcoin in Mexico at the lowest rate - Personalized onboarding to multi-institution custody solution: Visit aureobitcoin.com

Mentioned articles in the podcast:

https://www.forbes.com/sites/digital-assets/2026/01/05/maduro-captured-what-it-means-for-stablecoins-oil-and-bitcoin/
https://www.coindesk.com/opinion/2026/01/06/don-t-hold-your-breath-for-venezuela-s-bitcoin

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In Episode 5 of the Bitcoin Latam Report, Maciej Cepnik talks with Santiago Varela Belmont (Director at KardashevBTC and founder of La Casa de Satoshi) about why Mexico’s pension system is structurally failing, and why Bitcoin matters for retirement.

This episode is based on Aureo’s first report: “Limitations of Mexico’s Retirement Savings System (SAR) and Savings Alternatives in Mexico.” Together, they break down the key reforms of 1997 and 2007, explaining why defined-benefit promises, demographics, and Mexico’s large informal economy make the system increasingly unsustainable. They also discuss how fiat debasement quietly erodes purchasing power over time, framing Bitcoin as a means of saving. They also discuss practical paths forward, from strengthening voluntary retirement savings to how responsible Bitcoin exposure could fit into diversified portfolios.

00:00 Welcome & episode intro
01:10 Santiago’s background (economics thesis on Mexico’s pension system)
04:55 A quick history of money & saving in Mexico
07:35 Mexico’s first pension programs (1940s) + how the system evolved
10:00 1997 reform: Afores, SAR, CONSAR & the shift to defined contribution
12:30 2007 reform: expanding benefits + long-term sustainability risks
14:50 The real problem: fiat debasement vs. the financial illiteracy narrative
17:10 Why pensions are taking a growing share of Mexico’s budget
19:35 Demographics: fewer workers funding more retirees
22:00 Informality: nearly half of Mexico is excluded from the formal system
29:10 How Mexicans save today: real estate, stocks, businesses, gold
31:30 Bitcoin in a portfolio: diversification + Sharpe ratio logic
33:50 Explaining Bitcoin without sounding crazy: Savings technology.
38:50 Balancing state pensions vs. self-sovereign savings
41:10 Global examples: pension funds getting Bitcoin exposure
46:00 Scarcity: why Bitcoin is different
49:30 Community updates

We invite you to read the full report about the Mexican pensions system here (Available in English and Spanish):

aureobitcoin.com/en/blog/limitaciones-del-sistema-de-ahorro

Follow:

Maciej on X: @CepnikMaciej
Aureo on X: @AureoBitcoin
Santiago on X: @santiagovare1a
La Casa de Satoshi on X: @LaCasaDeSatoshi
Inflation calculator: inflacionmexico.com
Buy and Sell Bitcoin in Mexico: aureobitcoin.com

This podcast is part of the Aureo Media Network.

In Episode 4 of the Bitcoin Latam Report, Maciej Cepnik interviews Ronny Avendaño, founder and CEO of the Bitcoin Hardware Store, in Mexico City at La Casa de Satoshi. Ronny shares his journey from Toronto to El Salvador, how meeting “real Bitcoiners” pushed him toward self-custody, and why he started the store after realizing how hard it was to get basic Bitcoin tools like a node.

They discuss what Bitcoin adoption actually looks like in El Salvador, the country’s major improvements in safety, the remaining infrastructure gaps, and how Bitcoin can help solve real problems. The episode also covers choosing Bitcoin-only open-source hardware, helping users move off exchanges, inheritance planning, and Ronny’s plan to expand the hardware store model across Latin America.

00:06 Ronny arrives in Mexico / La Casa de Satoshi
02:07 Moving to El Salvador
04:27 Origin of the Bitcoin Hardware Store
09:15 El Salvador then vs now: safety transformation
14:05 Using Bitcoin mining to solve infrastructure problems
16:31 Setting expectations: El Salvador isn’t Bitcoin heaven yet—advice for movers
26:14 Why a physical store works
30:59 Why El Zonte?
40:36 Hiring & training
45:30 Product selection criteria
50:20 Inheritance planning
55:47 Expansion plans
58:06 Next Locations of the Bitcoin Hardware Store

Show Notes

Follow Ronny on X: @ronnyavendano_

Follow The Bitcoin Hardware Store on X: @tbhs_sv

Follow Maciej Cepnik on X: @CepnikMaciej

Follow Aureo on X: @AureoBitcoin