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Venezuela is thankful to Trump for improving the Petro's economy.

Apr 11, 2018 Posted /  434 Views

Venezuela is thankful to Trump for improving the Petro's economy.

The cryptocurrency market is in a full swing. A cryptocurrency wave has been created and is dominating most of the news feed in a past few months. Any kind of FUD in the news disturbs the crypto market badly. Recently a similar FUD against a particular cryptocurrency did fluctuate its market price but unexpectedly in the positive direction.

Daniel Peña, the executive Secretary of Venezuela's Blockchain observatory in a recent statement given in an interview for the Cuatro F newspaper has proclaimed that the activity of Donald Trump's banning Venezuela's official cryptocurrency Petro, backed by oil reserves of Venezuela was of great help to them. As the intention of the ban by the US was to limit the usage of Petro, the consequence backfired and due to the news the cryptocurrency market of Petro and the number of interested investors almost doubled, Daniel explained in the interview. 

The president of The United States Donald Trump had recently banned the US citizens from buying, trading or investing in Petro, the cryptocurrency of Venezuela, also known as the Petro gold.

In the interview he also put forth his optimistic beliefs with respect to the cryptocurrencies and blockchain technology as “important steps in humanity’s revolution.” he also claims that Venezuela is moving ahead in the right direction with its cryptocurrency Petro.

Which he explained as follows,

“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.”

He also revealed that they were already ready to brace themselves from the attack of US on their Petro. But Trump's move instead acted as a “boomerang for the US government,” as it “aroused more interest in acquiring the Petro in the world.”

He also boasted that the Trump's statement had triggered interest in the citizens of Africa, in fact, many US citizens themselves wanted to invest in the Petro.

The executive secretary detailed that before Trump's statement, Petro had “more or less 400 clients” per day, and immediately post president’s words the number skyped to 800. He firmly believes that all the Petro tokens would be sold within the Petro’s sale duration.

When he was questioned as to when does he thinks that Venezuela's economy would thrive. He replied, “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.”

Recently, Nicolas Maduro had claimed that just the pre-sale of the Petro token had raked $5 billion. This information when tallied with the actual information didn't seem to hold true, considering 38.4 million tokens at a price of $60 each. This is a clear indication as to how Maduro had modified the actual statistics.

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Tags: Cryptocurrency Market

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