Venezuela may have accumulated up to 600,000 Bitcoin (BTC) in secret cryptocurrency reserves using proceeds from the sale of oil, gold, and other state assets.
Elchi.az reports that the publication “Cryptopolitan” emphasized that the information has not been confirmed.
The country’s authorities may have transferred assets to cryptocurrencies to evade US sanctions. In particular, between 2018 and 2020, Venezuela sold approximately 73 tons of gold worth approximately $2.7 billion, and sources say that this gold was converted into approximately 400,000 BTC. The remainder of the alleged reserve is said to be related to oil revenues: it is claimed that up to 80% of oil exports were paid in the USDT stablecoin at the end of 2025, after which funds were converted to Bitcoin to protect against possible account freezes. Estimates of Venezuela’s potential cryptocurrency reserves range from 600,000 to 660,000 BTC, which is equivalent to tens of billions of dollars at current prices. These assumptions are also linked to the use of stablecoins during the existence of the state cryptocurrency Petro, the project of which was finally closed in 2024.
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