Tag Archives: venezuela

Venezuela to Use Petro Cryptocurrency in International Oil Trade

The government of Venezuela recently announced the intended sale of its oil using the Petro cryptocurrency to circumvent U.S economic sanctions come 2019. Circumventing U.S. Sanctions According to Venezuela-based satellite tv, TeleSUR, Venezuelan President, Nicolas Maduro announced that country would create a basket of cryptocurrency for oil-backed state cryptocurrency, Petro. The sale of oil using Petro would commence… Read More »

Cryptocurrency Accepted: Venezuela Will Sell Oil for Petro, Maduro Says

Advertisement The government of Venezuela has announced that it plans to create a basket of cryptocurrencies for the oil-backed state cryptocurrency, the Petro. This initiative will allow the government to sell oil in exchange for petros and bypass US-imposed sanctions at the same time. The sale and purchase of crude oil with cryptocurrency will begin in March 2019.… Read More »

Venezuela to Sell Oil for Petro Cryptocurrency in 2019, Says Maduro

Venezuela’s President Maduro has said the nation will sidestep the U.S. dollar and phase in use of its controversial petro token for oil sales starting next year. According to a report from state-run media network TeleSUR on Thursday, Venezuela’s President Maduro said that the move is aimed at minimizing the dollar’s dominance in the industry and diversifying the… Read More »

BTC/USD Price Analysis: Fundamentals Diverge From Price, Positive for Bitcoin Bulls

Fundamentals are extremely bullish and with regulators amending/formulating new laws, it’s clear that Bitcoin is here to stay. That could explain the increasing level of use, institutional interest and more funds for infrastructure development.Latest Bitcoin NewsThing is, poor policies can cause irreparable damage for an economy. Unfortunately, then ordinary citizens bore the full brunt but not anymore. Crypto… Read More »

Venezuela: Maduro Raises Petro’s Value By 150 Percent Amid Ongoing Inflation

Venezuelan president Nicolas Maduro has raised the reference value of the national cryptocurrency, Petro, against the background of the country’s ongoing hyperinflation, the president’s official Twitter tweeted Nov. 30. According to major Latin American television channel TeleSur, Maduro first announced the new Petro rate on Thursday. Nov. 29. The value of the Petro is now set at 9,000… Read More »

Questions Raises on Petro’s “cryptocurrency” status Following Hike in Price By President Maduro

Cryptocurrency market has lost $45 billion in total, bitcoin still stand on top and the value of other cryptocurrencies are volatile. As on December 03, 2018, the Venezuelan president, Nicolas Maduro has increased the price of Petro cryptocurrency with 150 percent. Petro is the national cryptocurrency of Venezuela which was valued 3600 sovereign bolivars to 9000 bolivars. In… Read More »

Venezuela Artificially Inflates Petro 150 Percent As Bitcoin Set 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 the country’s highly… Read More »

What Is Bitcoin? Crypto Featured as Category on Jeopardy

During last night’s airing of the popular TV game show Jeopardy, cryptocurrency was featured among the categories contestants could choose from. I’ll Take Cryptocurrency for $1,000, Alex On Thursday night’s episode of the iconic TV game show hosted by Alex Trebek, Jeopardy, cryptocurrency was one of the six categories contestants could select from. In Jeopardy, chosen categories reveal… Read More »

Venezuela: Parliament Approves Crypto Bill to Combat ‘Financial Blockade’

The Constituent National Assembly of Venezuela has approved a bill on cryptocurrency regulation, the country’s Ministry for Communication and Information reported Nov. 21. The law was proposed by the country’s leader Nicolas Maduro and consists of 64 articles and five transitory provisions. It validates Petro, Venezuela’s controversial oil-backed cryptocurrency, as a unit of commercial exchange within the country,… Read More »