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Venezuela Hoarding BTC per People Who Have Direct Knowledge of the Matter

The price trends of Ethereum and Bitcoin provide reasons for carefully weighed optimism concerning these assets.

Bitcoin is trying to heal itself, and it has been trending in the price ranges of $8,100 through $8,300. The price of the Ethereum went up by roughly $10, thereby ranging near $169 from $157 where it used to be previously trending.

The heartening situation for investors is that even if the price of the Bitcoin has not increased, it did not drop down severely. With Bitcoin finding support near $8,000, there are good reasons to be optimistic about the token.

The Central Bank of Venezuela might very soon consider the Bitcoin to be among its reserves. There are likely to be other countries following suit, and there might be many countries who are already doing it secretly.

The Central Bank of Venezuela has already declared its plans to stockpile on Bitcoin and Ethereum.  The Petroleos de Venezuela S.A. (PDVSA) has recently required BTC and ETH payments for oil and gas operations. This information has been revealed by four people who have had direct knowledge of the matter.

There are several other reports which establish that the Venezuelan government has been gathering cryptocurrencies to bypass U.S. sanctions. There have been reports that the Maduro’s government have been converting airline taxes to BTC.

One of the Venezuelan citizens has to state that it is only the government who are using the petro and that ordinary people are not using it. Further saying, “Nobody uses the petro, and only people close with government use it to skip out on U.S. sanctions — Sunacrip is really only for miners — they have installed crypto point-of-sale (POS) systems around some stores, but the POS only accepts bitcoin, litecoin, and BNB, so if you have petros, you need to exchange that.”

There have been several valid reports in the past which have been talking about the hoarding of digital assets, and the Maduro government have established several avenues to collect cryptocurrencies through state-run entities.

An off the shelf malware is known as the “Masad Clipper and Stealer” has been declared to be the “active and ongoing” threat which is stealing Bitcoin Wallets. This malware is said to steal sensitive data like the credit card details, passwords, cookies, desktop files, system information, and features from autofill fields.

The malware checks for data that corresponds to particular cryptocurrency wallets. Those cybercriminals who are opportunists would not overlook any of these details.

Richard Newman

Richard is the Editor-in-chief of Bitcoin Journal. He has over 10 years of experience with the news industry mainly handling the editorial cycle.

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