/Venezuela's Petro Coin Could Spur a Broader Rally in Cryptocurrency Prices

Venezuela's Petro Coin Could Spur a Broader Rally in Cryptocurrency Prices



Venezuela launches Petro Coin today – almost 84 million tokens are initially available for sale. The government expects to circulate 100 million tokens in total, in a bid to generate over $6 billion. Several virtual currencies claimed to be back by the dollar, but backing Venezuela’s Petro coin is crude oil.

Source: Venezuela’s Petro Coin Could Spur a Broader Rally in Cryptocurrency Prices