The Missing Bitcoin.. Does Venezuela Hide $60 Billion in Its Digital Vault?
undefined's profile picture
Mr. Mahmoud Al-Metwally
Wednesday, 1/7/2026 10:32 AM
After overthrowing Maduro, experts believe Venezuela may secretly hold large Bitcoin reserves built under sanctions, raising questions about confiscation operations, sales, and potential shocks to global cryptocurrency markets.
Although global attention has turned to Venezuelan oil reserves after Maduro's arrest, experts say the country might also possess another less obvious valuable asset, namely Bitcoin.
It is believed that Venezuela owns a substantial amount of this digital currency, potentially worth billions of dollars, according to experts who spoke to CNBC, though the exact figure remains highly uncertain according to timesnownews.
Guy Gomez, founder and CEO of Orange BTC, a Bitcoin-focused company based in Latin America, said: "It makes a lot of sense to assume that Venezuela had significant investments in Bitcoin. And given its exclusion from the global financial system, it is likely that it held gold, Bitcoin, and some dollars in its vaults".
He adds: U.S. sanctions have imposed strict restrictions on Venezuela's access to international financial markets for years, and to circumvent these restrictions, experts believe the Maduro regime may have experimented with cryptocurrencies.
Impossibility to Determine the Size of Bitcoin
The decentralized and private nature of Bitcoin makes it almost impossible to determine how much the state might own or where these assets are stored.
Speculation increased after "Project Prison" digital site, quoting unnamed sources, claimed that Venezuela might own up to $60 billion in Bitcoin, a number not verified through blockchain analysis.
World's Largest Government Bitcoin Holders
Conversely, Bitcointreasuries.net estimates Venezuela's Bitcoin holdings at only 240 Bitcoins, valued at approximately $22 million, based on external blockchain data.
Still, this ranks Venezuela among the world's largest government holders of Bitcoin, although experts warn that all these estimates should be treated with caution.
According to Gomez, it is likely that any Bitcoin Venezuela holds is distributed across thousands of wallets controlled by military officials and influential political figures, making tracking them extremely difficult.
Long History with Cryptocurrencies
Venezuela has a long history with cryptocurrencies. It launched the state-backed "Petro" currency in 2018, which ultimately failed and was discontinued in 2024.
The authorities also launched a stringent crackdown on Bitcoin mining, arresting miners and seizing assets before completely banning the practice.
Unknown Fate
Sebastian Pedro Bea, President and CEO of Reserve One and Investment Director, says, "When a chaotic change in the system occurs, that country's assets become unstable."
Bea added that U.S. authorities might also seize any Bitcoin linked to Venezuelan officials under sanctions, saying, "When they do, these currencies can go directly to the U.S. Treasury."
The potential stockpile of Bitcoin in Venezuela could have cascading effects on global cryptocurrency markets.
