Venezuela’s government on Tuesday opened the pre-sale of its contentious petrol cryptocurrency, making 82.4 million of the blockade-busting virtual coins available for purchase.
The Petro is part of a drive to overcome the U.S.’s economic blockade against Venezuela and rescue the national economy. President Nicolas Maduro announced it back in December, and the U.S. Treasury has warned investors to steer clear of it.
Venezuela’s official currency, the bolívar fuerte, is in freefall. Earlier this month, it saw a 99.6% devaluation—the latest in several under the government of Maduro.
“Petro is born and we are going to have a total success for the welfare of Venezuela,” Maduro said on Tuesday.
The real question we must ask is are other nations facing Western Sanctions Next? Could North Korea link a cryptocurrency to its tungsten reserves? Could Iran link oil to a Iranian cryptocurrency? We could be in the midst of another GOLD RUSH era and Crypto Miners and Investors could rake in billions!
These are exiting times for us in the Crypto World!