Venezuela Artificially Inflates Petro 150 Percent As Bitcoin Sets New Record

Venezuela saw yet another new record for Bitcoin use December 1 after another week of economic shake-ups made the cryptocurrency more appealing than ever. 1 Week, 1300 Bitcoins Data from Coin Dance confirms that in the seven days ending Saturday, Venezuelans transacted 1284 BTC ($5.1 million) via P2P trading platform Localbitcoins alone. In terms of […]

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Venezuela Finally Launches Controversial State-issued Petro Cryptocurrency

Venezuela’s President Nicolas Maduro recently announced the official launch of the Petro cryptocurrency. In a follow-up development, the government says payment for travel passports will now be made in Petro.  Petro Public Sale Starts November 2018 According to RT News, the Petro public sale commences on November 5, 2018, more than eight months after its […]

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Venezuela’s Petro Now Purchasable with Foreign Fiat

Adam James · March 25, 2018 · 4:45 am Last month, Venezuela became the first country to issue its own cryptocurrency with the launch of the purportedly oil-backed Petro. Now, the digital currency is available for purchase with a variety of fiat currencies — just not the dollar. Petro for Fiat Venezuelan citizens, companies, and […]

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President Maduro: Venezuela to Launch ‘Petro’ Pre-Sale on February 20

Ashour Iesho · February 3, 2018 · 2:30 am In a move that the government hopes will bring much needed economic relief, Venezuela’s President Nicolas Maduro announced earlier this week that the pre-sale of the country’s new ‘petro’ cryptocurrency will begin on February 20. A Cryptocurrency Backed by Crude For years, Venezuela has been struggling […]

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