According to a local news source TeleSUR, Venezuelan President Nicholas Maduro said that the initial stage of sales of the crypto currency Petro (PTR), collected 5 billion dollars. In its course more than 186 thousand certified purchases were registered. This announcement was made during a meeting with members of the United Socialist Party of Venezuela (PSUV) in Caracas.
During the meeting, Maduro explained that the money received from the preliminary sale of the crypto currency will be used to "service everything that our country needs." According to him, the money is part of a broader "economic decision", which the Venezuelan government united.
In addition, Carlos Vargas, the country's chief crypto currency agent, showed that more than 83 000 people from 127 countries were trying to acquire crypto-currency with oil support. Among them was 3523 entrepreneurs. As previously we Reported, the country received 171 000 preliminary registrations for the sale of tokens, and Maduro claimed that in one day he attracted 735 million dollars.
The Petro Crypto currency was created as a way to circumvent US sanctions, while Venezuela is dealing with a sharp recession, which forces its citizens to rely on the crypto currency to survive. While Maduro's words show that the preliminary sale was a huge success, there is no evidence pointing to it.
NEM wallet allegedly owned by the government of Venezuela still holds 100 million coins reserved by order of the president of the country. Nevertheless, Maduro recently said that Petro seeks to improve the "monetary sovereignty" of the country, and also helps it "to carry out financial operations and overcome the financial blockade."
Petro is wrapped in controversy
Although the Venezuelan leader claims that Petro is a step forward, various legislators of Venezuela do not seem to agree. The opposition bloc of the country's congress said that selling crypto currency is "illegal and unconstitutional" instrument for selling oil reserves of the country. The National Assembly of the country condemned him as fraud and argued that this could be risky investment.
On the other hand, China's Dagong credit rating claimed that Petro "can help the global monetary system." To strengthen the crypto currency, Maduro ordered the airlines of the country to accept Petro and other crypto-currencies to pay for tickets.
Despite the contradictions, Venezuela intends to sell Petro to private companies through its currency platform Dicom. Last month Maduro claimed that Petro Gold, a crypto currency supported by precious metals, would be launched next week.
Author: Yevgeny Yakubenko, Analyst Freedman Club Crypto News
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