Nicolás Maduro and his wife, Cilia Flores, are now in US custody and face federal charges in New York that include narco-terrorism conspiracy and weapons offenses.

Meanwhile, Public data sets that track sovereign and corporate Bitcoin treasuries attribute around 240 BTC to the Venezuelan state, valued in the tens of millions of dollars at recent prices.

Separate reports, however, claim that the Maduro government may have accumulated a much larger, undisclosed Bitcoin position while under US sanctions.

According to Whale Hunting, the total holdings could reach up to 600,000 BTC, implying a notional value of about 60 billion dollars at current market levels, although these figures remain unconfirmed and rely on indirect evidence.

If those estimates are correct, the alleged reserve would represent close to 3% of Bitcoin’s circulating supply and place Venezuela among the largest known holders.

Alleged Accumulation via Gold Sales

Sources cited in recent analyses link the rumored reserve to steps Venezuela allegedly took to obtain hard currency while cut off from much of the global financial system.

According to these accounts, the government sold physical gold from the Orinoco Mining Arc and used some of the proceeds to buy Bitcoin, with one tranche estimated at roughly 2 billion dollars executed at an average price near 5,000 dollars per coin.

Additional reports say Venezuela’s state oil company asked some buyers to pay in Tether (USDT) rather than using the traditional banking system to avoid sanctions-related blocks.

This alleged reserve-building aligns with domestic policy shifts. In May 2024, Venezuelan authorities banned Bitcoin mining and seized thousands of ASIC machines, citing energy concerns, while also discontinuing the state-backed Petro token.

If US investigators identify and secure wallets linked to Venezuelan state Bitcoin holdings, the coins could become subject to a complex legal process rather than immediate sale.

A New Focus on Undisclosed Sovereign BTC Exposure

For the Bitcoin market, that kind of freeze would remove a large block of supply from active circulation and delay any significant liquidation risk linked to Venezuela.

US forces transferred the couple from Venezuela to the USS Iwo Jima and then to New York, where they entered not-guilty pleas before a federal judge.

During the hearing, Maduro spoke in Spanish, described himself as Venezuela’s president and complained about being taken from his home in Caracas before the judge interrupted him.

Their detention marks a major escalation in US action against Venezuela’s former leadership after years of sanctions and diplomatic confrontation.

This article was written by Jared Kirui at www.financemagnates.com.TrendingRead More

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