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.
Additionally Carlos Vargas, the country’s cryptocurrency superintendent, revealed that over 83,000 individuals from 127 countries attempted to purchase the oil-backed cryptocurrency. Among them, were 3,523 entrepreneurs. As previously covered by CCN, the country had received 171,000 pre-registrations for the token sale, and Maduro claimed it raised $735 million in only a day.
Carlos Vargas: 34 países han confirmado su intención de participar en el #Petro, pero son muchísimos más. Estamos cerca de 100 países que ya han manifestado su intención de participar con un poquito o con algo, con lo que consideren importante para ellos” pic.twitter.com/1JKQbYr8Y6
— Madelein Garcia (@madeleintlSUR) March 9, 2018
The Petro was created as a way to bypass US sanctions, while Venezuela deals with a steep recession, that’s forced its citizens to rely on cryptocurrencies to survive. While Maduro’s words seem to show the Petro’s pre-sale has been a tremendous success, there’s little to no evidence pointing that out…