VOICED : Maduro: intencion de compra de Petro por USD 735 millones

VOICED : Maduro: intencion de compra de Petro por USD 735 millones

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Interactive Video

Business, Social Studies, Other

9th - 10th Grade

Hard

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Venezuela's El Petro cryptocurrency received $735 million in purchase offers within 20 hours of its launch, as announced by President Nicolás Maduro. The private pre-sale of 38.4 million petros began, with a total issuance of 100 million. The public offering will follow, with the state reserving 17.6 million. The value of each petro is based on oil prices, with a reference price of $60, subject to change. The cryptocurrency was introduced to address liquidity issues exacerbated by U.S. financial sanctions.

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