The President, Nicolás Maduro, informed that the cryptocurrency Petro will have a quotation equivalent to that of the barrel of oil. The value of the Venezuelan petro cryptocurrency was placed in April 2018 at 49.04 euros per unit, according to information published by the Ministry of People’s Power of Petroleum on its web portal. This price represents an amount of 384.20 yuan, which is the same as 60.98 dollars. This according to the exchange rate of 0.81 euros per dollar. The value and exchange rate was announced and published this week by the Ministry of Petroleum. The average of the month of March of the Venezuelan cryptocurrency (corresponding to the period between March 19 and 29) was 48.55 euros or 377.87 yuan.
In this sense, according to the Venezuelan president, Petro’s pre-sale agreements reached more than 5,000 million dollars, equivalent to more than 4,000 million euros or more than 31,000 million yuan.
In the same order of ideas, during the first 15 days of direct sales, the petro could also be bought with the cryptoactives Bitcoin, ethereum and xem. The petro may be acquired by natural and legal persons through the web portal www.elpetro.gob.ve. Users must make the purchase securely through a Petro Billetera, which is available for Linux, Windows and IOS systems.
For its part, the Minister of Popular Power for University Education, Science and Technology, Hugbel Roa, stressed that “the Venezuelan digital currency called El Petro has become a very attractive cryptoactive for international markets and, internally, a source of savings to access purchases “. The Petro seeks to break the economic blockade that has been imposed on Venezuela and that the nation can perform the various financial operations, defend and provide assistance to the people, the official said to businessmen who attended the National Council of Productive Economy, an event held this Tuesday at the Ezequiel Zamora Hall of the White Palace, in Caracas.
At the same time, he stressed that “this digital currency has particular characteristics compared to other cryptocurrencies in the world, because it has its backing in the” riches that the country possesses “. In this sense, the national government aspires with El Petro to enter more than 30 international exchanges, once the pre-sale protocols have been completed, about 45 days from the day of its launch. He reported that to date there is interest and proposals from more than 20 virtual exchange houses, “that have applied and could enter into connection with different partners at the international level to be able to place the cryptoactive El Petro”.
For its part, the Superintendence of Cryptoactives and Related Activities reported on Tuesday that supermarket chains and pharmacies were preparing their collection system in Petros. The Venezuelan government also authorized the payment in Petros for port services and everything related to the tourism sector.
Venezuela issued the Petro on February 20, as a measure to boycott the commercial and financial blockade imposed by Washington last August.
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