In a report published by Bloomberg, it has been said by four people with knowledge of the matter (sources) that the central bank of Venezuela are running internal tests to see whether it is a possibility to add Bitcoin and Ether to its international reserves.
The test has come at the request of Petroleos de Venezuela SA (PDVSA), the massive state-owned oil and natural gas company. PDVSA is looking to have the central bank pay the company’s suppliers on its behalf using the bitcoin and ether it has.
Recently there have been sanctions imposed on the nation after some major political issues and PDVSA has struggled to do business with some customers and suppliers. It is not known how the company got hold of the cryptocurrencies or how much they have.
In the past Venezuela have been open to the use of cryptocurrencies as they have their own coin called “Petro” which was made in 2018 which is backed by the countries oil reserves.
This could be a big deal for crypto enthusiasts as if central banks start carrying bitcoin it may increase demand and as often with this kind of thing once one central bank starts it, some others may follow.
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