It’s unclear why investors would buy at that price, said Russ Dallen, the managing director at Caracas Capital. There’s no guarantee that they’ll be able to exchange Petros for oil. The country is so strapped for cash, it can’t afford basic supplies like food and medicine.

On the other hand, speculators were willing to buy cryptocurrencies based on a meme and the self-proclaimed “Useless Ethereum Token,” so anything is possible.

“At the right price, people will buy anything. Even Venezuela’s latest joke,” Dallen said.