RE: Why Venezuela's New National Cryptocurrency El Petro Will Fail
Venezuelan authorities do not want to accept the national currency, the Bolivar, suffering from hyperinflation, the sale of digital coins El Petro. As we approach the beginning of krautsalat, in which the Venezuelan government will sell tens of millions El Petro, become aware of the details of the upcoming ICO. It is planned to produce 100 million coins El Petro. 38 million of them will be sold to institutional investors during the presale, said the President of Venezuela, Nicolas Maduro. According to various testimonies, the presales are allowed to participate only to institutional investors. They offered to buy El Petro with 60% discount. The main location of the coins starts 15 February and will last for a month. During the ICO will be sold 44 million coins.