August 23, 2026

Capitalizations Index – B ∞/21M

Venezuela’s New Interim President is Anti-Petro and Pro-Bitcoin

Venezuela’s new interim president is anti-petro and pro-bitcoin

Venezuela’s New Interim President is Anti-Petro and Pro-Bitcoin

The U.S. now recognizes opposition leader Juan Guaidó as the leader of Venezuela. He took a public oath to swear himself in as the interim president of Venezuela on January 23, 2019. Guaidó is familiar with cryptocurrency technologies and has been promoting BTC since at least 2014.


Venezuela’s Interim President a Fan of BTC

Because of the severe economic crisis afflicting Venezuela for several years, BTC has been used as a safe-haven asset, allowing many Venezuelans to escape hyperinflation.

In this regard, Guaidó has been propagating information about BTC 00. For example, in August 2014, he announced via Twitter the launch of BTC exchange Plataforma Sur BTC. This was the first exchange allowing Venezuelans to buy BTCs using Bolivars, the local currency.

For many years, the volume of BTC transactions in Venezuela has been increasing. And during the last few weeks, because of the worsening economic crisis and political instability, BTC trading volumes have been reaching new highs on P2P trading platform LocalBitcoins.

Venezuela’s new interim president is anti-petro and pro-bitcoin

Guaidó Not a Fan of the Petro Cryptocurrency

Venezuela’s newly recognized leader also used social media to criticize the Petro cryptocurrency vehemently. The Petro is a digital currency that president Nicolas Maduro imposed to address the economic crisis in February 2018. The idea was to back up this cryptocurrency, controlled by the government, with Venezuelan oil and other mineral reserves.

In this regard, in August 2018, Bloomberg wrote,

Venezuela’s Maduro carried out one of the greatest currency devaluations in history over the weekend. To make things more complicated, the new bolivar’s value will be linked to a cryptocurrency.

Guaidó fought vigorously against the Petro, considering it an instrument used by the Maduro’s administration to defraud the Venezuelan people.

Petro

“Acting Venezuelan President is a fan of BTC,” said Max Keiser in reaction to Guaidó becoming interim president of Venezuela.

Good news. Maduro’s Petro was never gonna work. Converting economy over to BTC would be the smartest thing they could do.

bitcoin-based transaction volumes most likely will continue to soar, as more facilities to buy and sell the cryptocurrencies are made available to Venezuelans. For example, the first BTC ATM will be installed in the next few days.

Since January 5, 2019, Guaidó has been serving as the President of the National Assembly of Venezuela. In addition to the U.S., as of this writing, his claim as the country’s interim president has been recognized by the governments of Argentina, Brazil, Canada, Chile, Colombia, Costa Rica, Paraguay, Peru, Ecuador, Guatemala. The Organization of American States (OAS) has also recognized Mr. Guaidó as the country’s leader.

Do you think BTC will continue to flourish in Venezuela if Juan Guaidó becomes the legitimate president? Let us know in the comments below!
_______________________________________________________________

Images courtesy of  Twitter/@zackvoell, coin.dance, shutterstock, asambleanacional.gob.ve

Published at Fri, 25 Jan 2019 09:00:20 +0000

Previous Article

Susan Athey: The Economics of Bitcoin [BTC] & Virtual Currency

Next Article

Much-anticipated Overstock’s Security Token Trading Platform tZERO Goes Live

You might be interested in …

3 industries poised for blockchain disruption

3 Industries Poised for Blockchain Disruption

3 Industries Poised for Blockchain Disruption Blockchain technology is destined to fundamentally change the world. Beyond early adopters (and early birds), the majority of people seem to be oblivious to the idea that blockchain technology […]

Before Paper Money, Livestock Was the Maximum Appraised Commodity; Now Cryptocurrency Has Taken the Crown

KKT coin is the newly ventured cryptocurrency sloganizing to bring the power of money to the hands of common men, those who are oppressed, less-fortunate and lacking the resources. The idea behind creating KKT coin was to heal the people anguished by financial trivialities, emotional damage, and social retard; created through the proxy-war between the super nations of the world.


There are kids who need us for food, shelter and most of all, to abolish the ignorance prevailing in their minds and hearts due to the illicit silence of the world on their opacities. There are women, in continuous fighting with egalitarianism created through gender-bias. This acumen is changing relationships of women with their natal families and distressing them endlessly – because no one is cognized to admit women have the right to be the head-of-family (especially in the countries with lower literacy rate).

Speaking about KKT coin, KKT Foundation CEO Brendon De Villiers explained:

So, the idea of KKT coin launch is to empathize the fraught members of the society, pledging them with opportunities, resources (in terms of infrastructure and services) and most of all giving them enough monetary possessions for survival.

He further added that the KKT Coin launch is not an overnight decision, in fact, the KKT foundation and experts have read the societies and generated facts regarding children and women sufferings. He said that women and children are the important props on which a society stands in long-term so they made findings regarding women.

Women & Children in Under-Developed Countries

Women and children in underdeveloped or developing countries are suffering from many problems and KKT foundation is focused on the on the following findings:

  • Wage-war between genders.
  • Child-labor.
  • Child-beggars.

Women & Children Affected by Wars

Women and children have also been degraded due to wars and there are a number of factors affecting them nowadays and needs to be eradicated. Here are the findings by KKT team experts.

  • Striving for food.
  • Physically damaged
  • Psychologically damaged
  • Striving for education
  • Looking for jobs

When asked why they thought to generate money by using cryptocurrency, De Villiers replied:

Cryptocurrency has taken over the globe. These are just 10 years when the first ever crypto in the shape of bitcoin was launched and now it is the most valuable asset even in the physical world. Moreover, virtual world responses better than physical world as, on the internet, digital currency doesn’t constrain you with borders and races. It offers best resources either you want to buy commodities, sell services or invest in the human welfare; cryptocurrency is providing the means in every way to every citizen either poor or rich or mediocre. Thus to make the progress rapid fast we have chosen this mean.

He further added:

It is safe, secure and the same time most revenue generated currency. Its rate is stable and investing in KKT will bring you money as well as the power to be whatever you want to be. You don’t have to be worried here for online scams while purchasing KKT coins because the currency is registered and recognized at all the crypto markets. Moreover, it is not owned by someone you don’t know in fact it is owned by you, all of you who ever is the part of investment.

For more information about KKT please visit kktcoin.com.


Images courtesy of KKT

The post Before Paper Money, Livestock Was the Maximum Appraised Commodity; Now Cryptocurrency Has Taken the Crown appeared first on Bitcoinist.com.