Venezuela's massive, secret Bitcoin holdings came under scrutiny following the US-led raid in January 2026 that resulted in the arrest of President Nicolás Maduro.
Intelligence reports indicate that Venezuela may have accumulated a “shadow stockpile” of up to 600,000–660,000 BTC, worth approximately $60 billion to $67 billion, making it one of the countries with the most Bitcoin holdings in the world.
How will the arrest of President Maduro affect Bitcoin?
With over 600,000 Bitcoin Token rumored to be held, Venezuela could rival large institutions like BlackRock and MicroStrategy . This information could completely change the game regarding Bitcoin supply and market sentiment in 2026.
According to sources cited by Whale Hunting , this accumulation process began in 2018 through a series of gold swaps, oil transactions settled with Tether (USDT) , and the seizure of domestic mining operations.
Between 2018 and 2020, Venezuela reportedly exported tens of tons of gold from the Orinoco mining region. Reports indicate that approximately $2 billion of this gold was converted into Bitcoin at an Medium price of $5,000 per BTC.
This particular batch of Bitcoin, currently valued at around $36 billion, laid the foundation for Venezuela's "underground cryptocurrency reserves."
Following the collapse of the state-owned cryptocurrency Petro , the Maduro government increasingly demanded that the state-owned oil company PDVSA pay for crude oil exports in USDT during the 2023–2025 period. Subsequently, this stablecoin was "converted" to Bitcoin to reduce the risk of account freezes and limit exposure to the USD.
Another portion of the Bitcoin assets comes from the seizure of domestic mining operations, bringing the total accumulated Token to approximately over 600,000, equivalent to nearly 3% of the circulating supply.
Venezuela's secret Bitcoin stockpile is on a scale far exceeding previous government Bitcoin sales. In 2024, the German state of Saxony sold 50,000 BTC (worth approximately $3 billion at the time), causing a 15–20% market correction.
If Venezuela's 600,000 BTC were seized or frozen, the market could witness an unprecedented supply shock, drastically reducing liquidation and driving Bitcoin prices higher.
The U.S. is now facing crucial choices regarding this stockpile. Sources suggest there are three major scenarios that could unfold:
- These assets may be frozen during litigation.
- They could be included in the U.S. Strategic Bitcoin Reserve, or
- Selling through auction (less likely).
Experts believe that freezing assets or integrating them into the Strategic Reserve Fund is the most viable option.
Why is Venezuela's Bitcoin holdings important to the global market?
If this scenario unfolds, supply could be locked up for the next 5–10 years, creating an optimistic narrative for Bitcoin and investment firms like MicroStrategy (MSTR).
This large amount of Bitcoin also demonstrates the increasing use of cryptocurrency among Venezuelans. Hyperinflation, US sanctions, and the devaluation of the bolívar have led people to increasingly use Bitcoin and stablecoins.
By the end of 2025, approximately 10% of grocery store payments and nearly 40% of peer-to-peer transactions will have been conducted via cryptocurrency. Remittances sent back to the country via stablecoins will also account for nearly 10%. According to Chainalysis, Venezuela ranks approximately 17th globally in terms of crypto adoption rate. Within Latin America alone,
Maduro's arrest further increases instability. If a transitional government with significant US influence comes to power, it could lead to:
- Relaxing regulations prohibiting crypto mining.
- Promoting cryptocurrency-friendly policies, and
- The priority is to reclaim the massive amount of BTC that is believed to belong to Venezuela.
However, until the private key is handed over or legal disputes are resolved, these 600,000 BTC XEM "locked." This creates short-term volatility but in the long term contributes to a sharp increase in Bitcoin's price due to the tightening supply.
In a market where each major investor has considerable influence, Venezuela's hidden reserves become a crucial yet often overlooked factor in the overall global Bitcoin landscape.
If the US succeeds in controlling and freezing these assets, 2026 could see a major shift in supply and demand, liquidation , and market sentiment.
This development could transform the secret accumulation process of a once-isolated nation into one of the largest strategic Bitcoin reserves in history.
