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Tag Archives: Venezuela

Inflation at 8900% Turns Venezuelans to Bitcoin In Record Volumes

Venezuela, the most hardline socialist country in the American continent, is in a steep crisis in recent years ever since oil prices fell below the $100 area in 2014 down to a third of the price in early 2016. The people are turning to Bitcoin as spiraling inflation destroys the economy. Bitcoin Adoption Hits Record Highs […]

Meet the Charity ‘eat BCH’ – the P2P Electronic Cash-to-Food System

Over the past few months of 2018 flying under the radar, there’s  a new charity aimed at feeding Venezuelan citizens and their children — a group called ‘eat BCH.’ The group has been getting a lot of bitcoin cash (BCH) donations towards feeding the hungry from within the country’s troubled economy. The donations are proving […]

Crypto Investors Should Stay Away from Venezuela’s Petro

Crypto enthusiasts around the world should send a strong signal to President Maduro that blockchain technology will not be used to support corruption.

Venezuela Claims Petro Cryptocurrency Has Raised $3bn from Investors in 127 Countries

The Venezuelan government has made some new claims about the pre-sale of the country’s oil-backed cryptocurrency, the petro. After one week, President Nicolas Maduro said that the petro had raised $3 billion from 171,015 certified purchases, from investors in 127 countries. The majority of the orders were in dollars, followed by bitcoin and ether, according […]

Poland Refutes Reports of Its Interest in Venezuela’s Oil-Backed Cryptocurrency

Poland’s Ministry of Finance has refuted reports that it is interested in the petro, the Venezuelan ”oil-backed” currency. Earlier this month, Venezuela reportedly claimed that a handful of countries have expressed interest in receiving the petro for commerce with Venezuela such as Norway, Denmark, Brazil, Vietnam, Poland, and others. Also read: Indians Look to Buy Bitcoin […]

Venezuela Is Talking With Russia About Cryptocurrency

Venezuelan finance minister Simon Zerpa Delgado announced on Twitter that he visited Moscow to update Russian officials on Venezuela’s petro currency.

Venezuelan Senate Outlaws the Creation of the Petro Cryptocurrency

Most people are well aware of how Venezuela wants to create its own cryptocurrency. Known as the Petro, this new form of money is backed by the country’s natural oil reserves. Although president Maduro has planned to issue quite a few of these coins in the near future, that may not happen after all. More […]