Venezuela reportedly wants its central bank to hold bitcoin

Venezuela reportedly wants its central bank to hold bitcoin 1

The bank is likewise considering proposals to count cryptocurrencies toward international reserves that have plummeted in recent years.

It’s not certain where Petroleos got the bitcoin and ethereum, let alone how much it has. There’s also no guarantee that companies would accept such a move when crypto’s relative anonymity and the potential for money laundering leads many other banks to hold off. That’s not even including the potential for further trade restrictions. This is a Hail Mary effort to sustain Venezuela’s economy (and thus the Maduro government), and it may ultimately amount to a risky experiment even if it goes ahead.

Venezuela reportedly wants its central bank to hold bitcoin 2
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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin39,885 0.08 % 1.80 % 23.16 %
Ethereum2,291.8 0.15 % 0.07 % 14.37 %
Tether1.000 0.39 % 0.44 % 0.11 %
Binance Coin311.74 0.50 % 0.48 % 6.09 %
Cardano1.280 0.08 % 0.69 % 8.76 %
XRP0.7157 1.01 % 11.67 % 24.75 %
USD Coin0.9991 0.15 % 0.37 % 0.85 %
Dogecoin0.2074 0.54 % 1.78 % 8.25 %
Polkadot14.46 0.13 % 1.63 % 16.62 %
Binance USD0.9990 0.12 % 0.39 % 0.83 %

bitcoin
Bitcoin (BTC) $ 40,277.00
ethereum
Ethereum (ETH) $ 2,311.18
tether
Tether (USDT) $ 1.01
binance-coin
Binance Coin (BNB) $ 316.11
cardano
Cardano (ADA) $ 1.28
xrp
XRP (XRP) $ 0.714646
usd-coin
USD Coin (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.209916
polkadot
Polkadot (DOT) $ 15.05
binance-usd
Binance USD (BUSD) $ 1.01