Rumors about Venezuela holding large amounts of Bitcoin spread after President Nicolás Maduro was arrested by US forces and taken to the United States.
Some reports suggest the US may secretly seize a massive amount of Bitcoin – many speculate it's 600,000 BTC, worth around $60 billion at current prices. However, legal facts and on chain data paint a much more cautious picture.
Venezuela's secret 600,000 Bitcoin hoard: Is it true or just a rumor?
The rumors stemmed from the idea that Venezuela had been secretly accumulating Bitcoin for years to circumvent sanctions.
Proponents of this theory argue that unofficial oil trading, gold transactions, and the use of cryptocurrencies within the country are evidence of a large Bitcoin "slush fund."
However, there is currently no on chain evidence to prove that Venezuela holds hundreds of thousands of Bitcoin as rumored.
No wallet address has been identified, nor has the name of the managing entity been disclosed. There is no evidence to verify this information on the chain .
In short, the figure of $60 billion is merely speculation and lacks supporting evidence.
What does Venezuela actually hold?
The only figure that appears in public tracking systems and expert reports is approximately 240 BTC. This number is also debated by many and is actually very small compared to the global scale.
More importantly, these Bitcoins are not clearly linked to wallets that the US can access. They could be stored in cold storage, held by a third party, or outside the jurisdiction of US law.
Ownership is also a major issue. State-owned assets face far more legal hurdles than private assets.
Can the U.S. legally seize Maduro's Bitcoin?
Under U.S. law, the answer is most likely yes. When Nicolás Maduro is brought to the United States and prosecuted, federal courts will typically handle the case.
The long-standing Ker–Frisbie rule allows for prosecution even if the accused was brought into the United States through illegal means.
The U.S. also does not recognize Maduro as the legitimate leader of Venezuela. This makes it difficult for him to enjoy state leadership immunity in U.S. courts.
However, arresting an individual does not automatically mean seizing their assets.
To seize Bitcoin, two things are needed – legal power and actual access.
First, the prosecution must prove that Bitcoin is directly linked to the alleged crime in court. Estimates, intelligence, or geopolitical scenarios are not sufficient grounds.
Next, authorities need access to the asset. This means they must have the private key, use a compliant custody service, or have access to an exchange located within the United States. Without the key or cooperation, Bitcoin cannot be seized – regardless of who is being detained.
This applies to both the rumored reserve fund and the smaller 240 BTC .
Realistic outlook for the near future
The U.S. can freeze assets if their identities are discovered. The U.S. can also pressure intermediaries or monitor suspicious wallets. They can also use threats of seizure as a bargaining tool during trials.
However, seizing a $60 billion Bitcoin hoard is highly unlikely, both legally and practically.
The arrest of Donald Trump's biggest opponent does not mean the seizure of Venezuela's Bitcoin, whether the information is true or just a rumor.
Without evidence, jurisdiction, and a private key, even the boldest claims remain unattainable.
