Sales of Petro cryptocurrency raised $ 5 billion

According to the local news source TeleSUR, Venezuelan President Nicolas Maduro said that the initial stage of sales of Petro cryptocurrency (PTR), collected $ 5 billion. It was more than 186 thousand certified procurement. This announcement was made during a meeting with members of the United socialist party of Venezuela (PSUV) in Caracas.

During the meeting, Maduro explained that the money received from pre-sale of cryptocurrency will be used for the “service is just what we need in our country.” According to him, the money is part of a broader “economic solution” that the Venezuelan government has United.

In addition, Carlos Vargas (Carlos Vargas), the main agent of the cryptocurrency in the country , showed that more than 83 000 people from 127 countries were trying to acquire money with the support of oil. Among them there were 3523 entrepreneurs. As we reported earlier, the country received 171,000 pre-registrations for the sale of tokens, and Maduro claimed that in one day he attracted 735 million dollars.

Carlos Vargas: 34 países han confirmado su intención de participar en el #Petro, pero son muchísimos más. Estamos cerca de 100 países que ya han manifestado su intención de participar con un poquito o con algo, con lo que consideren importante para ellos”

– Madelein Garcia (@madeleintlSUR) March 9, 2018

Crypto-currency Petro was created as a way to circumvent US sanctions, while Venezuela is dealing with a sharp recession that forces its citizens to rely on cryptocurrency to survive. While Maduro’s words show that the pre-sale was a huge success, there is no evidence to suggest it.

NEM wallet allegedly owned by the Venezuelan government still holds 100 million coins reserved by order of the President. However, Maduro recently stated that Petro seeks to improve the ” monetary sovereignty “of the country, as well as helping it”to make financial transactions and overcome the financial blockade.”

Petro is shrouded in controversy

Although the Venezuelan leader claims that Petro is a step forward, various legislators Venezuela doesn’t seem to agree. The opposition bloc of the country’s Congress said that the sale of cryptocurrency is an “illegal and unconstitutional” tool for the sale of the country’s oil reserves. The national Assembly of the country condemned him as a fraud and claimed that it may be a risky investment.

On the other hand, China’s dagong credit rating argued that Petro “can help the global monetary system.” To strengthen the cryptocurrency, Maduro ordered the country’s airlines to accept Petro and other cryptocurrencies to pay for tickets.

Despite the contradictions, Venezuela intends to sell Petro to private companies through its currency platform Dicom . Last month, Maduro claimed that Petro Gold-a cryptocurrency supported by precious metals-will be launched next week.


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