Tag: Petros

Pensioners of the National Oil Company Will Receive 2 Petros as a Gift in Venezuela – Bitcoin News

boss

The pensioners of the state-owned oil company of Venezuela, PDVSA, have started receiving a Christmas bonus in petros (PTR), the first national cryptocurrency launched back in 2018. The petro, which is backed by Venezuelan oil and other resources, can be traded in local exchanges for these pensioners to access fiat currency, as the reach of the currency as a means of exchange is still limited according to local reports. Venezuelan Pensioners To Get 2 Petros This Christmas A group of Venezuelan pensioners stemming from the PDVSA, the state-owned…

Venezuela Cuts Petro’s Backing from 5B Barrels of Oil to 30M: Reuters

boss

Venezuela plans to back its national oil-pegged cryptocurrency, the Petro (PTR), with 30 million barrels of crude oil. Venezuelan President Nicolas Maduro announced that the oil inventories are sitting in the country’s storage tanks and are ready for immediate commercialization to serve as a “liquid, physical, material backing” for the Petro.  The president announced the news on Nov. 20 on state television, according to a Reuters report. In the announcement, Maduro called the Petro a “sovereign Venezuelan crypto asset.” Venezuela initially planned to back the Petro with 5 billion barrels…

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

boss

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 sovereign bolivars, instead of the previous 3,600 bolivars. Speaking in Caracas that day, Maduro also ordered an increase in the monthly minimum wage by 150 percent, which is the sixth increase in…