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It would be possible for the government of Venezuela to have a big quantity of Bitcoin accumulated, but I doubt it is close to such amount.
If they have anything close to 60 billion dollars, it is product of illegal activities and corruption... Or perhaps the commerce of oil with countries like China or India, which used Bitcoin as a way to pay for oil and avoid economical sanctions imposed by the United States.
No, no, this news just doesn't make sense. 600K is just a huge number to hide. On-chain analysis would reveal this information years ago if it was true.
What I was trying to say is that it is possible for Venezuelan officials and politicians to have seeds which are worth thousands of Bitcoin, kept in separate wallets or addresses, but it would not be as many Bitcoin as this thread is suggesting, not even close to half million Bitcoins. But there is definitely Bitcoin in his country, being kept secretly and away from the administration of the United States and the European Union.
Anyways... If Venezuela had so many Bitcoin, indeed there could be some on-chain activity which could have highlit such high concentration on wealth.
