Bolivarian Bull Case for Cryptocurrency

By Anonymous

Venezuelan president makes a great argument for an alternative to fiat money, but not in the way he thinks

He’s no Satoshi, but don’t discount Nicolás Maduro as a pitchman for the benefits of cryptocurrencies.

Investors in the sector are used to hyperbole. Other crypto promoters typically can’t back it up with the sort of promises made by Venezuela’s president, though. Officially endorsed by a sovereign state, the “Petro” cryptocurrency should have an edge of hundreds over wacky Bitcoin wannabes. As of Monday, it became the “mandatory accounting unit” of the state oil company.