Venezuela's bitcoins. Alleged $60 billion worth

[Joy_learns_crypto]

This remains a matter of speculation, as there's no valid on-chain evidence of such large Bitcoin holdings. This certainly highlights how crypto has become a geopolitical tool; countries like Venezuela use it to evade sanctions, but it could actually backfire on the US.

We can only hope this figure is true and the US successfully takes over as a strategic reserve; otherwise, your 2nd scenario (which we don't expect) could happen sooner. In the absence of valid evidence, we'll simply see the market overreact to this uncertainty.

I also haven’t seen any valid evidence, but with what surrounds Venezuela and that the bitcoin was seized it will be hard to see an on chain evidence to support this rumor.
But with how rich Venezuela is i think it might just be true, Venezuela may be rich but how the government are mismanaging their wealth makes the citizens poorer.

[Cryptomultiplier]

This remains a matter of speculation, as there's no valid on-chain evidence of such large Bitcoin holdings. This certainly highlights how crypto has become a geopolitical tool; countries like Venezuela use it to evade sanctions, but it could actually backfire on the US.

We can only hope this figure is true and the US successfully takes over as a strategic reserve; otherwise, your 2nd scenario (which we don't expect) could happen sooner. In the absence of valid evidence, we'll simply see the market overreact to this uncertainty.

I also haven’t seen any valid evidence, but with what surrounds Venezuela and that the bitcoin was seized it will be hard to see an on chain evidence to support this rumor.
But with how rich Venezuela is i think it might just be true, Venezuela may be rich but how the government are mismanaging their wealth makes the citizens poorer.

While it is true that Venezuela has the said amount of Bitcoin in storage, investigations by the U.S has yet to lay hands on the wallet because private keys and location of the wallet is well hidden and unknown.
Am sure if the U.S lays hand on it, they would seize it and throw it in their reserve bank because that's why they created the strategy Bitcoin bank in the first place and am sure they would do well to protect crypto currency and Bitcoin with policies and implementations so as to keep the seized Bitcoin and crypto currencies in their strategic reserve banks, relevant.

[criptoevangelista]

Certainly, Venezuela and other countries with authoritarian regimes likely hold thousands of bitcoins. Many things happen behind the scenes of global politics that we have no idea even exist. I still believe that, over time, we will start seeing news about countries dumping bitcoins on the market, causing it to crash as retail investors panic and sell their coins out of fear. Every hour there’s a different narrative.

[philipma1957]

Zero evidence to show the so called 600,000 coins I consider it next to impossible to be true.

[DanWalker]

While it is true that Venezuela has the said amount of Bitcoin in storage, investigations by the U.S has yet to lay hands on the wallet because private keys and location of the wallet is well hidden and unknown.
Am sure if the U.S lays hand on it, they would seize it and throw it in their reserve bank because that's why they created the strategy Bitcoin bank in the first place and am sure they would do well to protect crypto currency and Bitcoin with policies and implementations so as to keep the seized Bitcoin and crypto currencies in their strategic reserve banks, relevant.

No, there is currently no evidence to suggest that Venezuela possesses such a large amount of bitcoin. So far, it is all just rumors.

That is for sure. If Venezuela actually possesses bitcoin and if the US can successfully seize that bitcoin. They will put it into their strategic bitcoin reserve, a reserve built solely by confiscating from others, never by spending money to buy it.

I hope that after stealing all the bitcoin from other countries, they wont move on to stealing bitcoin from everyone else to build their strategic bitcoin reserves.

[shinratensei_]

Unless there's on chain address to prove and the address is verifiable, I won't really trust these kind of rumour.
At this stage, i'd call it just a fud because there's no verifiable proof to base this rumour from. yet, there is already news circulating.

That amount of bitcoin isn't something you can just keep and nobody would know or able to identify it.

[Fiatless]

Zero evidence to show the so called 600,000 coins I consider it next to impossible to be true.

Without concrete evidence, these are mere speculations.  Even if the government was receiving payments from Bitcoin, the chances that they were keeping them are low. The country was facing severe economic problems that would have been compelled to sell off Bitcoins for foreign currencies. Without a verified Bitcoin address linked to the government or a top official, there is no evidence.