The United States has arrested Venezuelan President Nicolás Maduro on charges of drug trafficking and money laundering. Multiple media outlets and intelligence analysts state that the Venezuelan government has secretly accumulated approximately 600,000–660,000 Bitcoins since 2018 through various means.

How did they accumulate so much BTC? Since the US intensified sanctions in 2018, the Maduro regime has used several methods to bypass the US dollar system and banking restrictions:
1. Gold for Bitcoin: In 2018, they exported大量 gold from the Orinoco mining region (about 73 tons, worth around $2.7 billion), some of which was exchanged for BTC when Bitcoin prices were low (around $3,000–$10,000), holding until now for a multiple increase.
2. Selling USDT for oil and then converting to BTC: Between 2023–2025, PDVSA (Venezuela's state oil company) requires buyers to pay in Tether (USDT) for oil, then secretly wash the USDT into Bitcoin to avoid Tether account freezes.
3. Confiscating domestic mining rigs: They raided many private Bitcoin mining farms and directly took the mined coins into state ownership.

Official on-chain tracking tools (like Bitcoin Treasuries) only show that the Venezuelan government wallet holds 240 BTC (worth only a few million dollars). The hottest current discussion point: if the US truly controls these private keys, what would they do?
1. Freeze → Become part of the “US Strategic Bitcoin Reserves” (similar to confiscated criminal assets), permanently removing 3% of BTC supply from the market → Extremely bullish.
2. Auction → Trigger a major drop like Germany’s planned sale of 50,000 BTC in 2024 (but this batch is 12 times larger, potentially causing market collapse).
3. Return to the new government → Used to rebuild the country.

On Polymarket, I couldn't find any specific betting markets directly confirming whether “Venezuela holds $60 billion worth of Bitcoin reserves”! Current market reaction: Bitcoin surged to over $93,000 after the news broke, indicating many see this as a super bullish signal due to supply reduction.

“Intelligence sources suddenly reveal that Venezuela may be hiding a whale-level Bitcoin reserve worth $60 billion,” now everyone is betting on who will ultimately hold the private keys, and whether this will become the largest “hodl event” in Bitcoin history. The truth may only be revealed through subsequent court cases, on-chain tracking, or official statements, but this story has already tied geopolitics and Bitcoin together tightly, adding a lot of heat to the crypto market in 2026!
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