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Venezuela: Petro Can Be Converted Into Any Cryptocurrency If Bought This Year

• https://news.bitcoin.com

Venezuela's president, Nicolas Maduro, visited the headquarters of the Superintendency of Cryptoassets and Related Activities (Sunacrip) last week to sign up for a petro savings plan, the Ministry of Popular Power for Communication and Information (Minci) announced.

Minci is dedicated to promoting the government and communicating its message to the public. Sunacrip is responsible for regulating all crypto-related activities in Venezuela.

During his visit, Maduro offered a new incentive for people to purchase his country's national digital currency. El Nacional quoted him saying:

Anyone who buys petro [from now] until December 31 can convert it into any digital currency or international convertible currency, such as bitcoin or yuan.

Venezuela: Petro Can Be Converted Into Any Cryptocurrency If Bought This Year

He was further quoted by Minci elaborating that "in this special period, from now until December 31," the petro can be converted and "then in December you can buy what you want, through the internet."

The petro savings plan was launched on Nov. 5. It can be redeemed after 90 days, 180 days, and 270 days, according to Tarek El Aissami, the country's economic minister and former vice president. "Within three months I will receive what the petro is worth at the time," Maduro said.

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