Streisand effect: Venezuela thanks Trump for banning Petro, doubling investment

All publicity is good publicity, as the saying goes, and it appears to have been true for Venezula’s oil-backed cryptocurrency, the Petro (PTR).

Last month, US President Donald Trump issued an executive order banning citizens from buying or trading crypto related to the Venezuelan government, which put the Petro firmly in the news cycle.

The number of interested investors has since doubled from 400 to 800, according to Daniel Peña, executive secretary of Venezuela’s Blockchain Observatory (translation via CCN):

“I answer you like Earle Herrera [a Venezuelan journalist] when he said that I do not know anything about cryptocurrency, nor do I have clarity about the evolution of the digital currency; But if US President Donald Trump gives it time, imagine that. A person so busy giving it his time, that means we’re on the right path.

“Petro’s impact will be felt within three to six months. We have already advanced fast. As the gringos know that we are going to quickly reorganize our economy, they attack the Bolivarian Government; but they will not stop the economy’s growth, they know it.”