Tag Archives: Nicolas Maduro

The U.S. government is being very strict when it comes to Petro trading. While the Petro is not a North American cryptocurrency, U.S. citizens who use it or trade it will be subjected to harsh penalties.The Petro Isn’t a Popular AssetAs we all know, the Petro has a relatively shady history – so shady, in fact, that President Donald Trump has issued an executive order preventing all American citizens from trading Petro units. A state department spokesperson with the Western Hemisphere Affairs...

Oh, President Maduro… You just can’t seem to take a hint. Why do you continue to push a currency that has yet to serve any serious purpose?Maduro To Force Planes to Use the PetroIn his latest chant of “the Petro is da bomb,” Venezuelan President Nicolas Maduro is going out on a limb and claiming that all Venezuelan airlines flying from the nation’s capital of Caracas must purchase their fuel using Petro funds.In a speech to the ruling Constituent Assembly, Maduro announced the following:I...

Oh, President Maduro – when are you going to learn that the only person who seems genuinely interested in the Petro currency is you?! When are you going to see that nobody in Venezuela or abroad gives a hoot about your failed digital asset?The Petro Is Still Being Pushed, Now in Questionable WaysUnwilling to accept reality, Nicolas Maduro – president of Venezuela – is continuing to push a Petro-backed agenda, saying that his country will now sell both gold and oil for Petro units. So here,...

2020 could be the year Venezuelan oil will be finally exchanged for the Petro crypto. The national cryptocurrency is yet to find a use outside its borders. U.S. sanctions are scaring would-be buyers with the number of oil barrels sitting in storage tanks growing by the day. Venezuela’s plans to sell its mineral resources for its cryptocurrency Petro will reportedly take off this year.According to the Venezuelan President Nicolas Maduro, the country’s oil will be sold in the national...

Venezuelan president Nicolas Maduro just can’t seem to take a hint when it comes to the Petro.The Petro is Failing and Will Continue to Do SoIn another effort to push Venezuela’s failed national cryptocurrency, Maduro has announced that retirees and pensioners within the country are set to receive financial bonuses in Petro funds this Christmas, but does anyone really care?The currency was first introduced in early 2018 through an initial coin offering (ICO). While Maduro claimed to have sold...

Venezuela’s President Nicolas Maduro openly admitted that his policy is definitely pro-crypto – especially regarding Bitcoin and Ethereum. He said Venezuela’s government will use cryptocurrencies as a “method for free national and international payments.”Let’s not forget that the U.S. imposed sanctions that have largely isolated the country from the global financial system, causing one of the world’s most severe economic crises and forcing statesmen and executives to use a whole new network...

Venezuela’s President Nicolas Maduro has openly declared his regime’s love for cryptocurrencies like Bitcoin and Ethereum. The controversial politician on Tuesday said his government is using cryptocurrencies to access national and international payment infrastructure. He confirmed that Venezuela’s finance minister and central bank are close to introducing “new instruments.” It would give every Venezuelan access to “national and international payments through the central bank’s accounts.”...

A recent Bloomberg report suggests that the central bank of Venezuela is looking to add both bitcoin and Ethereum to its international basket of currency reserves.The call for digital solutions was trumpeted by state-owned enterprise Petróleos de Venezuela S.A (PDVSA) which is apparently sitting on its own secret stockpile of bitcoin. The energy behemoth manages the country's vast oil and natural gas reserves.Four anonymous officials have confirmed PDVSA's request to store and use...

Venezuelan President Nicolas Maduro has mandated that the country’s oil-backed cryptocurrency, the Petro, must be used to fund the ‘Great Housing Mission Venezuela’ social housing program. Ildemaro Villarroel, the minister of popular power for habitat and housing - the department overseeing the housing project - confirmed that the program will be funded using the Petro. In an announcement posted on the department’s website, the minister described the financing mechanism as offering greater...

Venezuelan President Nicolas Maduro is pushing for Petro adoption, but locals are buying bitcoin in record amounts. | Image: Shutterstock The largest bank in Venezuela, the state-owned Bank of Venezuela, appears to have launched services to facilitate transactions in the country’s state-issued oil-backed virtual currency, the Petro. According to Decrypt, Bank of...