Venezuela backs national cryptocurrency with 5,000,000,000 barrels of crude

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Source: RT

Maduro said the field’s “reserves amount to five billion barrels of oil,”which is confirmed by the corresponding “international certificate.”

“Every single Petro will be backed by a barrel of oil,” Maduro said, promising to provide cryptocurrency mining throughout the country. “We will set up a special team of cryptocurrency specialists so they will be engaged in mining in all states and municipalities of our country.”

The Venezuelan leader has also promised to allocate Arco Minero gold deposits from the Orinoco Belt along with the country’s diamond deposits.