The Post-Fiat World Begins: Venezuela's Cryptocurrency A Necessity To Obtain A Passport [zero hedge]
LATAM AIRLINES GROUP SA (LTM)
US:NYSE Investor Relations:
latamairlinesgroup.net
Company Research
Source: zero hedge
The case for cryptocurrencies sure looks to have gotten stronger over the past week and Venezuela's "Petro" looks like it may be the concept's first "beta test" on a country-wide scale. We recently reported that the Yale endowment had invested in a $400 million cryptocurrency fund focused on investing in digital coins and blockchain startup companies. Now, Bloomberg is reporting that the only way Venezuelans can get a passport is through the country's new "Petro" cryptocurrency, which is backed by Venezuela's oil and mineral reserves.This development in Venezuela could be viewed as a very real step away from Fiat currency and a very real step toward a permanent commodity-backed currency. The government has priced new passports at 2 Petros, which is the cryptocurrency equivalent to 7200 Bolivars - or four times the national monthly minimum wage. For Venezuelans that are looking to get out of the country, passports are key. The United Nations says an estimated 5,000 people are leaving
Show less
Read more
Impact Snapshot
Event Time:
LTM
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
LTM alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
LTM alerts
High impacting LATAM AIRLINES GROUP SA news events
Weekly update
A roundup of the hottest topics