Tag: venezuela petro

Venezuela’s Petroleum Giant is Reportedly Urging its Central Bank to Include Bitcoin and Ether as Foreign Reserves

Bitcoin as a reserve currency is the dream of many crypto enthusiasts. Venezuela may turn that dream into a reality. According to a Bloomberg report this week, the country’s petroleum giant PDVSA is urging its central bank to include Bitcoin and Ethereum as foreign reserve currencies in its portfolio. PDVSA wants to use both cryptocurrencies… Read More Venezuela’s Petroleum Giant is Reportedly Urging its Central Bank to Include Bitcoin and Ether as Foreign Reserves

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The Case Of The Disappearing Petro, Venezuela’s National Cryptocurrency

When Venezuela’s petro was launched in February this year, the country’s president Nicolas Maduro had great hopes for it. “Today, a cryptocurrency is being born that can take on Superman,” he said, in a reference to the U.S. sanctions which crippled Venezuela’s economy. The petro would presumably help the South American nation circumvent sanctions by… Read More The Case Of The Disappearing Petro, Venezuela’s National Cryptocurrency

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