Odaily Planet News: Analyst SerenitySerenity posted on the X platform stating that intelligence reports indicate the Venezuelan government has accumulated a shadow reserve of over $60 billion in Bitcoin and USDT. This reserve has been accumulated by circumventing sanctions through gold swaps and requiring oil exports to be settled in USDT.
According to relevant intelligence, Venezuela began accumulating cryptocurrency assets since 2018. The regime once converted approximately $2 billion in gold revenues into about 400,000 bitcoins, at an average price of $5,000 per bitcoin. In addition, between 2023 and 2025, Venezuela obtained approximately $10 to 15 billion in cryptocurrency assets through crude oil trade, and converted them into bitcoin due to the freezing capabilities of USDT. Currently, it is estimated that Venezuela holds between 600,000 and 660,000 bitcoins, valued at approximately $5.6 to 6.7 billion.
Currently, Venezuela is listed as the fourth-largest holder of Bitcoin globally, with holdings second only to Satoshi Nakamoto, BlackRock, and MicroStrategy, surpassing the 325,000 coins held by the U.S. government. The U.S. government may attempt to seize these assets by offering plea deals, reduced sentences, or protection for family members in exchange for seed phrases. If these assets are seized, they may be taken under the custody of the U.S. Treasury and locked up for the long term, thereby reducing the circulating supply in the market.