US Targets Venezuela’s Shadow Bitcoin Reserves
The United States may be preparing to seize one of the largest undeclared crypto reserves ever linked to a sovereign state. According to investigative findings, Venezuela could be holding up to $60 billion in Bitcoin beyond official financial channels.
Allegations of a Hidden Bitcoin Stockpile
An investigation by Project Brazen suggests that Venezuela’s shadow crypto reserves may reach as much as 600,000 BTC. If accurate, this would represent roughly 3% of Bitcoin’s circulating supply - a concentration large enough to influence global markets.The claims rely primarily on human intelligence sources rather than direct blockchain analysis, making verification difficult but not dismissible.
Gold, Oil, and Crypto Conversion
In 2018, Venezuela exported approximately 73.2 tons of gold valued at around $2.7 billion. Investigators believe part of these proceeds was converted into Bitcoin through intermediaries in Turkey and the UAE when BTC traded between $3,000 and $10,000.By late 2025, up to 80% of Venezuelan oil exports conducted through PDVSA were reportedly settled in USDT stablecoins. These funds were then converted into Bitcoin to shield assets from sanctions and freezing mechanisms.
Key Figures and Alleged Laundering Network
One of the central figures named in the investigation is Alex Saab, a Colombian businessman who served as head of Venezuela’s International Investment Center starting in January 2024. He is alleged to have coordinated asset flows and conversion mechanisms.Potential Outcomes If Assets Are Seized
Analysts outline three possible scenarios if US authorities gain control over the assets: long-term freezing during legal proceedings lasting five to ten years, integration into a future US strategic Bitcoin reserve, or gradual liquidation through controlled auctions.Any of these outcomes would significantly impact Bitcoin’s supply dynamics.
Market Impact and Historical Comparison
For comparison, Germany’s sale of 50,000 BTC in 2024 triggered a market correction of 15–20%. Venezuela’s alleged holdings are more than twelve times larger, amplifying potential consequences.Skepticism Within the Crypto Community
Despite the dramatic figures, parts of the crypto community remain skeptical. Critics argue that if such reserves truly existed, Venezuela’s leadership would likely have already leveraged them more aggressively or exited the geopolitical stage entirely.Until confirmed by on-chain evidence, the claims remain a high-impact but unverified scenario.
Conclusion
If confirmed, Venezuela’s shadow Bitcoin reserves would mark the largest known case of sovereign crypto accumulation conducted outside the global financial system. The US response could redefine how digital assets are treated under sanctions and state-level enforcement.Editorial Team - CoinBotLab
Source: Project Brazen
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