Enter the 'petro': Venezuela to launch oil-backed cryptocurrency

maduro bitcoins

Maduro's administration took control of the National Assembly, which claimed victory by 70%, although many countries dispute such a figure. In a major escalation against socialist president Nicolás Maduro, Donald Trump's administration has frozen all Venezuelan government assets. but cash-poor, country has soared by 30 percent to 2,454 bitcoins, according to crypto data tracker Coin Dance. Nicolas Maduro, Venezuela's.

Maduro bitcoins - can ask

Cryptocurrency

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Venezuela

In Venezuela: Finance
…it introduced the petro, a cryptocurrency (similar to Bitcoin) whose value was tied to the price of one barrel of Venezuelan crude oil and was backed by the country’s reserves of gas, oil, gold, and diamonds. In August, against IMF projections that inflation would top one million percent by year’s…
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In Venezuela: The presidency of Nicolás Maduro
…government introduced the petro, a cryptocurrency (akin to the Bitcoin) whose value was tied to the price of one barrel of Venezuelan crude oil and backed by the country’s reserves of gold, diamonds, gas, and oil. Maduro claimed that the first day of petro sales had netted some $735 million,…
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In Nicolás Maduro: Creation of the constituent assembly
…February 2018, introduced a Bitcoin-like cryptocurrency, the petro, its value being linked to the price of one barrel of Venezuelan crude oil. Although Maduro claimed that the first-day sales of the petro totaled some $735 million, skeptics saw the digital currency’s creation as a desperate measure. Seeking to limit the…
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