Petro

Venezuelans Tend to Trust in Bitcoin More than in Bolivar or Petro
Dec 17, 2020 at 10:10
News
Venezuelans Tend to Trust in Bitcoin More than in Bolivar or Petro
Venezuela is amidst one of the toughest economic recessions in the country’s history. To reinforce their standing, its citizens turn to Bitcoin. The flagship cryptocurrency tends to be more stable than the Bolivar, or the Petro, an oil-backed crypto issued by the Venezuelan government.
Venezuela Applies Cryptocurrency-Based Solutions to Bypass Sanctions
Dec 14, 2020 at 10:06
News
Venezuela Applies Cryptocurrency-Based Solutions to Bypass Sanctions
Venezuela faces lots of issues due to the sanctions imposed by the United States of America against the authoritarian regime of President Nicolas Maduro. Therefore, its citizens face the need for tools and ways that would allow them to circumvent the economic crisis in the country.
Venezuela Deliberately Reduces Oil Prices in Effort to Boost Petro
Jun 03, 2020 at 12:58
News
Venezuela Deliberately Reduces Oil Prices in Effort to Boost Petro
Venezuela has been pressing different knobs to find the right answer to save its struggling crypto, the Petro.
Maduro Tries to Promote Petro Again by Airdropping It to Doctors
Apr 04, 2020 at 08:43
News
Maduro Tries to Promote Petro Again by Airdropping It to Doctors
The President of Venezuela Nicolas Maduro plans on giving one free Petro to each doctor to do justice to medical workers that are risking their lives to fight the COVID-19 pandemic.
Venezuela Ready to Sell Oil and Gas for Petro Cryptocurrency
Jan 04, 2020 at 08:50
News
Venezuela Ready to Sell Oil and Gas for Petro Cryptocurrency
President Nicolás Maduro, states that, from 2020, oil will be sold for Petros, the cryptocurrency developed by the Venezuelan government. He assured that this year the country's oil production will be sold in their own oil-backed stablecoin.
Venezuela Plans to Use Oil Available in Tanks to Back Petro Cryptocurrency
Nov 23, 2019 at 11:12
News
Venezuela Plans to Use Oil Available in Tanks to Back Petro Cryptocurrency
On Wednesday, President of Venezuela Nicolas Maduro revealed that 30 million barrels worth of oil placed in storage tanks is going to work as the backing for the OPEC nation’s government-owned digital asset known as Petro, that has been going through tougher times including being sanctioned by the U.S government under the leadership of President Donald Trump.
Venezuela’s President Promises to Pay Pensioners in Digital Asset Petro
Nov 22, 2019 at 11:59
News
Venezuela’s President Promises to Pay Pensioners in Digital Asset Petro
On Sunday November 17 of this year, the current president of Venezuela, Nicholas Maduro made a statement that the government’s financial authorities will pay a Christmas bonus to a large number of retirees and pensioners using their own national digital asset called the Petro.
Nicolas Maduro Forces Banco de Venezuela to Accept Petro
Jul 06, 2019 at 12:02
News
Nicolas Maduro Forces Banco de Venezuela to Accept Petro
President Nicolas Maduro of Venezuela, issued an order to Banco de Venezuela (BDV), a global financial institution based in Caracas, to begin accepting the Petro (PTR), the country’s popular oil-backed digital currency. Through the Minister of Finance, the President told the country’s third market leader with a market share for deposits of more than 11.2%, to begin allowing Petro cryptocurrency in all of its functioning branches.
Political Turmoil Sees Venezuelans Store Wealth in Crypto
Mar 27, 2019 at 10:35
News
Political Turmoil Sees Venezuelans Store Wealth in Crypto
The Bolivarian Republic of Venezuela, one of the most oil-rich countries in South America and the world at large, is still experiencing political instabilities and this has led its economy to stagnate. The traditional (fiat) currency bolivar has lost value due to the hyperinflation that hit the country, this has forced its citizens to massively store their wealth in crypto currencies such as petro, Bitcoin, Ethereum, Ripple and others.
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