There have been various rumors within the industry about the scale of Bitcoin held by the Venezuelan government. Recently, some analytical institutions have speculated based on multiple sources of intelligence that the Venezuelan authorities may control Bitcoin assets worth up to $60 billion.

Sound unbelievable? Indeed. Although this data has not yet been fully verified through on-chain analysis, the logic behind the estimation has attracted the attention of many financial analysts.

According to publicly available information, this accumulation of funds can be traced back to around 2018. At that time, the global crypto asset market was in a low period, and Venezuela, facing an economic crisis and a shortage of US dollars, once turned to Bitcoin as a safe haven and asset preservation option.

If this speculation is true, Venezuela would become, after El Salvador, another heavyweight government-level holder of Bitcoin. What does this mean for the entire market? First, it indicates that the government’s recognition of Bitcoin’s value is expanding; second, once such a whale-level holding is released or flows, it could have a significant impact on the market.

Of course, until on-chain data fully verifies this, it remains just a speculation. But whether true or not, this topic itself demonstrates one point: Bitcoin has long since risen from a marginal asset to an indispensable piece in the global political and economic landscape.