Translated material
Venezuela launched the sale of its own cryptocurrency
The cryptocurrency of Venezuela was called El Petro, on Tuesday, February 20, its sale starts, TASS reports .
In early January, President Nicolas Maduro announced that a total of 100 million digital currency units would be issued, of which 82.4 million would be available to investors in the first phase. One unit of cryptocurrency will cost the same as a barrel of Venezuelan oil, that is, about $60.
El Petro is backed by a real asset - for this purpose, 5 billion barrels of oil have been diverted from the Ayacucho field in the oil-bearing belt of the Orinoco River. The authorities expect that the cryptocurrency will successfully attract funds from abroad.
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