Can the US Seize Venezuela’s Alleged Bitcoin Reserve? Facts vs Fiction

Claims that the United States could seize a massive, hidden Venezuelan Bitcoin reserve—often estimated at 600,000 BTC worth roughly $60 billion—have circulated widely across crypto and geopolitical circles. However, when examined through legal standards and on-chain data, these claims fall apart. The idea that Venezuela quietly amassed an enormous Bitcoin stash to evade US sanctions is compelling, but it remains unsupported by verifiable evidence.

Supporters of the theory argue that informal oil trades, gold sales, and domestic crypto adoption enabled the Venezuelan state to build a “shadow Bitcoin reserve.” Yet no blockchain analysis has identified wallets holding hundreds of thousands of Bitcoin linked to the Venezuelan government. No custodians have been named, no wallet addresses confirmed, and no on-chain proof exists. As a result, the widely cited $60 billion figure remains speculation rather than fact.

What does appear in public trackers and analyst discussions is a far smaller estimate of around 240 BTC. Even this amount is disputed and relatively insignificant on a global scale. More importantly, there is no clear evidence that these Bitcoin holdings are stored with custodians or exchanges under US jurisdiction. They could be in cold storage or held through third-party structures beyond American reach.

From a legal perspective, the US could theoretically pursue asset seizure if Nicolás Maduro were indicted and physically present in the United States. US courts do not recognize Maduro as Venezuela’s legitimate leader, weakening potential immunity claims. However, legal authority alone is insufficient. Prosecutors must prove the Bitcoin is directly tied to criminal charges and, critically, must gain access to private keys or compliant custodians.

Without keys, cooperation, or jurisdiction, Bitcoin cannot be seized. While the US may freeze identified assets, pressure intermediaries, or use forfeiture threats as leverage, the notion of seizing a $60 billion Bitcoin reserve remains both legally and practically implausible. Until concrete proof emerges, Venezuela’s rumored Bitcoin fortune remains firmly in the realm of speculation.