Venezuela’s central bank holding Bitcoin is just crazy enough to work

By: Jose Antonio Lanz

Venezuela’s dreams of becoming a crypto nation evidently extend beyond just the state-backed petro.

Earlier today, Bloomberg reported that Venezuela’s central bank could soon be holding an undisclosed amount of Bitcoin and Ethereum as part of its international reserves. 

According to Bloomberg’s unnamed sources, the country’s national oil company (and primary source of revenue), Petroleos de Venezuela, is exploring ways to send BTC and ETH to the central bank so that the state-owned firm can pay its monetary obligations to international suppliers.

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