In April, transactions for the purchase and sale of real estate in petro will be allowed, President Nicolas Maduro said. The government will also finance the construction of 236,000 new homes using funds from the pre-sale of oil-backed cryptocurrency.
Maduro announced that during the 30 days of the petro pre-sale, there were more than 200,000 orders from 133 different countries. The amount of orders is 5.25 billion US dollars. Since the launch of the national cryptocurrency in February, 82.5 million petro have been sold. In addition, petro can now be purchased for Russian rubles, Chinese yuan, Turkish lira and euros, as well as for bitcoin, ethereum and NEM.
Authorities intend to use US$735 million from the pre-sale to finance construction as part of a housing program launched in 2011 that plans to build 3 million new homes by 2019. It is expected that the President will allocate 14,000 hectares of state-owned land for this purpose.
Nicolas Maduro continues to deny the sanctions imposed by the White House, believing that their goal is to harm the country's economy. US President Donald Trump signed an executive order prohibiting US government officials and entities from engaging in any transactions with Venezuelan cryptocurrency.
According to https://news.bitcoin.com
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