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Venezuela’s Maduro claims the Petro has raised $3 billion USD

President Nicolas Maduro has claimed that Venezuela’s new national cryptocurrency, the Petro, has succeeded in raising over $3 billion USD from investors in 127 countries.

Written by Bryan Smith Published on

Venezuelan President Nicolás Maduro has reason to be upbeat this morning; the controversial statesman has now announced that his country’s oil-pegged cryptocurrency, the Petro, has succeeded in raising over $3 billion USD from investors in some 127 countries.

According to information posted on the official website of the nation’s Vice President, Tareck El Aissami,  the Petro has received “a total of 171,015 certified purchases”, wherein some “40.8% has been offered in Dollars, 6.5% in Euros, 18.4% in Ethereum, 33.8% in Bitcoin and 0.2% in Yuan”.

Additionally, the source claims that “About 87,284 users made offers to acquire Petros, of which 3,523 are companies and 83,761 people…127 countries have participated at the moment.”

State-owned radio station Radio Mundial similarly quipped that  “more than three billion dollars are reported after sales and transactions related to the Venezuelan cryptocurrency, the Petro.”

Correo del Orinoco – a government-backed newspaper – revealed a list of nations that had participated in the sale of the Petro thus far; including

“Afghanistan, Albania, Germany, Andorra, Angola, Antigua and Barbuda, Saudi Arabia, Algeria, Argentina, Australia, Austria, Bahamas, Bangladesh, Barbados, Belgium, Belize, Belarus, Bolivia, Brazil, Bulgaria, Cambodia, Cameroon, Canada, Qatar, Chile, China, Cyprus, Colombia, South Korea, Costa Rica, Croatia, Cuba, Denmark, Ecuador, Egypt, El Salvador, United Arab Emirates, Slovakia, Slovenia, Spain, United States, Estonia, Philippines, Finland, France, etc”.

The news follows on from reports issued on the 20th of February, where Maduro announced that the Petro had raised $735 million USD on the first day of its pre-sale.

Bull run

While the Petro’s reported success seems an early victory for both the controversial cryptocurrency and its Presidential backer, the digital currency has not been met with unanimous support.

Poland’s national government has refuted its interested in the national cryptocurrency after early reports indicated that the country was an interested investor, while the director of the Latin American Department of the Russian Foreign Ministry, Alexander Shchetinin, similarly quipped that the Petro should be “should be carefully studied before talking about the possibilities of its use by Russia”.

The Petro’s pre-sale is expected to last for some 30 days. Venezuelan Minister of Education and Science and Technology Hugbel Roa recently quipped that “After the pre-sale, [there will be] the sale of the digital asset [petro], which will last 15 days… After 45 days that will last these two processes, we will start with great force to consolidate the entire exchange subsystem of the petro.”

Have your say!

What are your thoughts? Would you be prepared to invest in the Petro? Be sure to let us know your opinion on Twitter – join the conversation @coininsidercom!

Written by

South African technology journalist, podcaster, photographer and filmmaker. Hodling - BTC, NEO, ETH.@bryansmithsa

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