Venezuelan president floats idea of charging for oil in Petro crypto

Newspaper also reveals details on reported $5bn pre-sale for PTR.

According to recent reports, Venezuela’s president, Nicolás Maduro,  says the country may start charging for exports in its controversial oil-backed cryptocurrency, the Petro (PTR) – effectively forcing those wishing to buy access its resources to buy into it.

According to a piece published by the country’s Cuatro F newspaper, directly quoting Maduro, even real estate is set to be purchasable with the crypto soon.  The piece also claimed the cryptocurrency’s pre-sale garnered over 200,000 buy offers, from 133 different countries – which added up to a claimed total of $5 billion, as previously noted.

According to Cuatro F, by April 20th, Venezuelans will be able buy products, even real estate, using PTR using the country’s Autonomous Service of Registries and Notaries (Saren). Maduro also to the paper that PDVSA – the state-owned oil and gas company – will be creating Petro wallets so buyers can pay it using Petro.

CCN’s translation of the piece adds: “This means that Venezuela will be able to charge in petros its oil, gas, steel, aluminium, petrochemical products, cocoa, among other goods exported by the South American nation. Likewise, the Central Bank of Venezuela (BCV) was authorized by decree to collect in petros for the export of gold from small mining and handcrafted items.”

The piece also reveals details of the Petro pre-sale, saying over 50% of buyers intend to pay for PTR using dollars, despite a ban on US citizens themselves investing in the Petro, with 16% using Euros. Less than 1% was purchased with Bitcoin, it claims.