"I certify and deliver to the petro 30 million barrels of liquid available for immediate sale to strengthen its monetary and financial power (…) to support the operations of the Venezuelan cryptoactive el petro," he said during an event in Caracas.
Maduro explained that the barrels of crude are part of the inventory of the state-owned Petroleos de Venezuela (PDVSA).
During the special day of the cryptocurrency, the president also signed a certificate from the company of the Venezuelan State Corporation of Guayana for the allocation of 180,000 tons of briquetted iron "to support and support the operations of the Venezuelan sovereign cryptoactive el petro".
The president also signed an alliance between the National Superintendence of Cryptoactives and the Valeven company (specializing in the administration of social benefits) through which 27,000 companies and 100,000 businesses throughout the country will be incorporated for the use of petro as a payment currency.
A petro has a value of 80,000 bolivars, according to the rate set by the Central Bank of Venezuela, and is backed by natural reserves such as oil (50 percent), gold (20 percent) and diamonds (10 percent).
The petro arose at the end of 2017, as a plan of the Government of Maduro to evade the economic sanctions imposed by the United States.
A decree of US President Donald Trump prohibits its purchase from any company or person in that country.