Petro raised $735 mln in pre-sale: Maduro

Venezuela

CARACAS, February 21, 2018 – Venezuela’s new cryptocurrency has raised USD 735 million in the first day of its pre-sale, international media reported on Wednesday.

The Petro, whose price is pegged to the price of a barrel of oil, can help Venezuela mitigate the threat of US financial sanctions.

“Today, a cryptocurrency is being born that can take on Superman,” President Nicolas Maduro was quoted as saying by Reuters.

The value of the entire issue is a little over USD 6 billion, with 100 million tokens issued, the report added.

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