Dear @hlezama
I appreciate your AMAZING comment. Thx for accepting my invitation to this post and sharing your thoughts with us.
When experts did some digging, they found that nobody had purchased a single petro.
Seriously? noone did? I wasn't aware of it. So it was quite a failure, right?
Yours,
Piotr
Noone did at the launching. The goverment just posted a bogus figure to give the impression that it had been a success, that investors were lining up to save our economy.
Then, they launched a campaign showing government officials purchasing/saving in Petros.
Of course, the chavistas bought Petros after that. Most venezuelans were forced to.
The government designed a system of bonifications through the Carnet de la Patria (Motherland ID Card--can you think of a more stupid name for an ID card used with the sole purpose of controlling people?). The have to give these bonuses because minimun wage, which is what most peole get these days, is never enough to cover more than 1 day a month. If you don't get this new ID you can't get the bonuses.
Well, some of the bonuses were automatically put in Petros, a crypto wallet to encourage saving.
Most people found ways to cash those into fiat money.
For most chavistas who believed this fraud, because the government sets the price of Petros and it has been on the rise, they feel they are making a good deal. Even if the Petro increased its value 100% a month (which it has not) that is nothing compared to the 100,000% inflation (which is a conservative monthly estimate these days).
BIG THX for replying @hlezama. I very much appreciate your time and effort and I'm grateful that you're sharing your knowledge and observations with me.
chavistas ??? What is chavistas ?
So it was possible to cash it out already? good.
Yours
Piotr