Ran NeuNer: small country is considering backing its currency with Bitcoin

04 Jul, 2019 | Updated: 04 Jul, 2019
by Richard Allen
Adoption
Ran NeuNer: small country is considering backing its currency with Bitcoin

Host of CNBC’s Crypto Trader Ran NeuNer has tweeted that an unnamed country is considering backing its fiat currency with Bitcoin.

However, NeuNer says he has signed a non-disclosure agreement and is, therefore, unable to reveal the name of the country. While admitting such a proposal is unlikely to come into effect, it does paint a clear picture of the direction we are moving in, he says.

Meanwhile, Venezuelan President Nicholas Maduro has ordered Banco de Venezuela, the country’s biggest bank, to open desks fro transaction in Petros in each of its almost 790 agencies across the country, CCN reports.

 “I am giving the explicit order to open Petro transaction desks at all Banco de Venezuela agencies,” Maduro stated.

Maduro’s order forms part of a larger plan to increase adoption of cryptocurrencies. Recently, the President announced that the government would be distributing cryptocurrency wallets to one million youths in the country as well as educating them on crypto adoption.

The wallets will include an undisclosed amount of funds in the hope of increasing Petro’s use. As a result of the campaign, the petro has risen 25% on local exchanges.

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