Venezuela’s New Cryptocurrency Targets Chink in US Economic Armor - Expert | WHAT REALLY HAPPENED


Venezuela’s New Cryptocurrency Targets Chink in US Economic Armor - Expert

Venezuela’s petro cryptocurrency has become a reality. The country’s government today officially launched the presale of its own cryptocurrency, in hopes that the new digital coin will boost the Venezuelan economy.

Petro is the world's first sovereign cryptocurrency, and is also backed by Venezuela's rich oil reserves, making it particularly appealing.

Reputable Venezuelan economist José Gregorio Piña told Sputnik that petro deals a serious blow to the US' financial and economic supremacy.

He explained that cryptocurrencies allow financial transactions to bypass US-controlled financial and economic institutions, pointing out that Washington "keeps on the hook" most of the channels implementing operations with traditional currencies, including digital ones.

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