Venezuela May Hold 600,000 Bitcoin Worth $60 Billion—But Analysts Find No Proof

Source: Btcpeers Original Title: Venezuela May Hold 600000 Bitcoin Worth 60 Billion But Analysts Find No Proof Original Link: According to investigative reports, journalist Bradley Hope presented a theory that Venezuela holds 600,000 Bitcoin worth approximately $60 billion. Hope published the claim through a financial newsletter in January 2026. The theory suggests Venezuela converted gold reserves into Bitcoin over several years.

Hope’s report claims a Swiss lawyer controls wallet access for the alleged reserve. The journalist also raised questions about possible involvement of Venezuelan government officials. The US Treasury has sanctioned key figures involved.

However, major blockchain intelligence platforms found no evidence supporting the claim. Analysts from leading blockchain tracking services told reporters that possessing 600,000 Bitcoin would mean fooling many blockchain analysts. Public tracking platforms show Venezuela accumulated only 240 BTC since 2022, valued at approximately $22.2 million.

Why Hidden Reserves Matter for Global Markets

The alleged reserve would make Venezuela the third-largest government Bitcoin holder globally. The United States holds the largest known reserve at approximately 325,000 BTC through its Strategic Bitcoin Reserve. Another major economy ranks second with 190,000 BTC from law enforcement seizures.

The 600,000 BTC figure stems from mathematical estimates based on Venezuela’s gold sales since 2018. Reports indicate Venezuela sold 73 tons of gold that year, representing 40% of national reserves. If converted to Bitcoin at historical prices, this could theoretically produce the claimed amount.

Blockchain analysts explained that verifying large-scale conversions remains difficult. Governments use fragmented wallets and offshore brokers to mask fund destinations. Multiple obfuscation methods like mixers and cross-chain swaps make tracking nearly impossible without compromising private keys.

Nations increasingly view Bitcoin as a strategic reserve asset. This makes any undisclosed holdings by major economies particularly important for global crypto markets.

Impact on National Reserve Adoption Trends

Venezuela’s early cryptocurrency adoption adds credibility to speculation about hidden reserves. Venezuela ranks among the top countries globally for crypto adoption in 2025. The country launched its oil-backed digital currency in 2018, though authorities discontinued it after six years.

Venezuelan policymakers noted the government experimented with cryptocurrencies before most governments. State entities were directed toward crypto payment mechanisms for transactions. Venezuelan citizens turned to Bitcoin and stablecoins as the local currency lost significant value in 2025.

The situation creates precedent for governments holding undisclosed crypto reserves. Multiple nations established formal Bitcoin reserves in 2025, including the US Strategic Bitcoin Reserve created by executive order in March. El Salvador publicly displays its 7,508 BTC treasury holdings through real-time tracking.

However, opacity in government crypto holdings could complicate international financial transparency. If Venezuela holds significant undisclosed Bitcoin, other nations might follow similar strategies. Blockchain intelligence firms face challenges tracking state-level operations that use advanced privacy techniques. Geopolitical tensions may eventually enable future asset discovery through diplomatic channels.