The geopolitics of Bitcoin are no longer theoretical

In the early 16th century, a German named Ambrosius Ehinger marched deep into the Venezuelan interior, driven by a singular obsession: El Dorado. A city of unimaginable gold, ruled by a man said to cover himself in dusted metal. The legend consumed empires. Ehinger’s expedition ended in death, like so many others, but the myth endured, reshaping maps, alliances, and colonial ambition for centuries. Five hundred years later, Venezuela is once again at the center of a treasure hunt. This time, the gold is digital and called Bitcoin (BTC). And once again, the myth may matter more than the treasure…