Venezuelan President Claims Petro Pre-Sale Raked In $5 Billion

Venezuelan President Nicolás Maduro claimed the pre-sale of the country’s oil-backed cryptocurrency, the Petro (PTR), has raised $5 billion and recorded over 186,000 certified purchases, according to local news source TeleSUR. The announcement came during a meeting with members of the United Socialist Party of Venezuela (PSUV), in Caracas.

During the meeting, Maduro explained that the money raised from the cryptocurrency’s pre-sale will be used to “service everything our country needs.” Per his words, the money is part of a wider “economic solution” the Venezuelan government put together.

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