Recently, sales of the Venezuelan cryptocurrency have been launched which aroused considerable interest from investors. Statistically, the first round of upfront sales attracted over 200 offers from 130 countries. Experts say there is nothing surprising about such high demand, as the project is on top of trends. It has all necessary features to become outstanding: modern technologies, bright promotional campaign, the unique oil-backing mechanism, and charismatic startupper in the person of the Venezuelan president. So, the project is doomed to success.
The pre-sale of El Petro showed overwhelming results. Pavel Durov was the only one to achieve greater success, raising 850 million dollars at the ICO of his Telegram messenger. And then the upfront sales brought generous profits. At the same time, Venezuela is suffering from political turmoil. Under the leadership of Nicolas Maduro, the country is mired in endless massive protests, poverty and hyperinflation. Moreover, the United States banned individuals and legal entities from buying El Petro. However, investors from other countries such as Colombia, Brazil, Japan, China, Palestine, and Spain neglect precautions of the American government. El Petro was launched on February, 20. Venezuela was the first country to introduce its own oil-backed cryptocurrency. Nicolas Maduro estimated the cost of one El Petro equal to the price of one barrel of the Venezuelan crude oil which is 60 US dollars.
