Cryptocurrencies
Here's What Maduro Has Said of Venezuela's Petro Cryptocurrency
- Petro token will fluctuate in price, Maduro said on television
- Critics have questioned whether the cryptocurrency is a ‘scam’
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Venezuela’s 95 percent devaluation of the bolivar over the weekend is generating fresh interest in its cryptocurrency, which was designed to be devaluation-proof. Yet, months after the Petro was first offered to the public, President Nicolas Maduro has yet to remove some of the mystery surrounding the mechanics of the digital coin.
Here’s what we’ve been told about the Petro by Maduro in public comments and via information on a website set up by his government to market the coin, which Venezuela says will be linked to its new “sovereign” bolivar.