Claims are circulating that Venezuela may be sitting on a large, undeclared bitcoin reserve built while navigating international sanctions.
What the rumor claims
An analyst posting as SerenitySerenity on X cited unspecified “intelligence reports” alleging the Venezuelan government accumulated a shadow reserve worth more than $60 billion in bitcoin and USDT.
The post claims the reserve was built through gold swaps and by requiring some oil exports to be settled in USDT.
Numbers cited in the report
According to the claims, Venezuela began accumulating digital assets in 2018.
It allegedly converted about $2 billion in gold revenue into roughly 400,000 BTC at an average price of $5,000 per coin.
The report also claims that between 2023 and 2025, Venezuela obtained $10 billion to $15 billion in digital assets via crude oil trade, and then converted those holdings into bitcoin due to USDT’s freezing risk.
It further estimates Venezuela holds 600,000 to 660,000 BTC.
That range would place it among the world’s largest holders, comparable in size to entities tracked on Bitcoin Treasuries.
Seizure speculation
The post also speculates the U.S. could attempt to seize any such holdings by offering plea deals, reduced sentences, or protection for family members in exchange for wallet seed phrases.
It claims seized bitcoin could be transferred to U.S. Treasury custody and held long term, similar to other tracked government holdings such as the U.S. government’s bitcoin balance.
The analyst wrote:
“Intelligence reports indicate the Venezuelan government has accumulated a shadow reserve of over $60 billion in Bitcoin and USDT.”
