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Thursday, 1 March 2018

Venezuela Declares $3Bn From Petro Sales

The Venezuelan Government which recently floated its own cryptocurrency; Petro which is backed by the country's oil. The President, Maduro came out to declare that the cryptocurrency has made 171,015 certified purchases and has raised $3bn from it

Summary:


  • The President announced that the country's cryptocurrency had made 171,015 certified sales and raked $3Bn from it
  • The breakdown of the sales is as follows: 40.8% was sold in Dollars, 6.5% in Euros, 18.4% in Ethereum, 33.8% in Bitcoin, 0.2% in Yuan.
  • Poland, earlier this week denied it's interest in Petro.
  • Russia has also issued it's statement stating that the petro “should be carefully studied before talking about the possibilities of its use by Russia,”
  • The Petro, interestingly, was helped into launch by a Russian startup company;Zeus.
  • The Venezuelan President claimed to have made $735 million from Petro sales on the first day of it's launch.
What do you think about this claim? Do you think Venezuela really made $3 Bn from Petro sales as claimed? Or do you think it is a ploy by the Government to attract people to the cryptocurrency?


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