Private Equity Moris Beracha Wuani

By Moris Beracha .- The Venezuelan government has carried out a massive advertisement campaign nationally and internationally, to promote its crypto asset called “Petro”, which has taken center stage, since it is used and anchored to the local currency and accounting unit in the finances of the South American nation. Not only is the referred token commercialized in the country, which is backed by the huge oil reserves, but also digital entrepreneurs have decided to develop new cryptocurrencies that allow Venezuelans to protect their money in the face of a serious economic crisis that could not be controlled by the administration of President Nicolás Maduro. In this sense, the head of the Venezuelan Association of Cryptocurrency (Asonacrip), José Álvarez, has stated in different media “there is a modest number of successful developments beyond the petro in Venezuela.” It should be noted that in addition to bitcoin, dash and the bolivar, Venezuelans ha...

    By William Suberg     Venezuelans traded more bolivars for Bitcoin ( BTC ) than ever before last week, but the statistics say more about fiat than cryptocurrency .  Yet another Bitcoin volumes record for Venezuela Data from Coin Dance , which tracks trading activity on P2P exchanges Localbitcoins , Paxful and Bisq , confirmed the seven days to July 20 were Venezuela’s biggest on record. During that period, users on LocalBitcoins alone generated volumes of over 57 billion bolivars, beating the previous all-time high of 49 billion, which appeared in the previous week. Weekly LocalBitcoins Volume (Venezuelan Bolivar) Courtesy of Coin.dance As Cointelegraph reported , Venezuela’s currency continues to suffer from runaway inflation, which estimates claim has reached 10,000,000% , leading citizens to resort to alternative means of storing value. The country’s official alternative, state-issued digital currency Petro , was declared...

By Adrian Zmudzinski Charity-focused organization Bitcoin Venezuela tweeted on April 10 that the so-called Lightning Torch had reached its final destination, with all accumulated Bitcoin ( BTC ) donated to the group. By the time it got to the organization, the Lightning Torch had grown to exactly 0.4108021 BTC, which is currently equivalent to over $2,000. The Torch is an experiment first initiated by anonymous Twitter user Hodlnaut . The Lightning Torch is passed by sending the same BTC from user to user adding a little every time via the scalability solution, Lightning Network (LN). Bitcoin Venezuela is reportedly responsible for the humanitarian initiative “Bitcoin for Venezuela,” recently reporting it had given away meals to people in the country during a power outage. The organization also seemingly partnered with the donation-funded Locha Mesh Network development initiative . The project aims to develop cheap and open source do-it-yourself device...