Trump Venezuela Oil Seizure Sparks Bitcoin Confiscation Speculation

President Donald Trump announced Tuesday that Venezuela’s so-called interim authorities would transfer between 30 and 50 million barrels of oil to the United States, only days after U.S. forces reportedly captured Nicolás Maduro in a military operation. The declaration immediately raised questions about whether other Venezuelan assets could follow—most notably the country’s rumored Bitcoin holdings.

According to Trump’s post on Truth Social, the oil will be sold at market prices, with proceeds directly controlled by the U.S. president. At an estimated $56 per barrel, the shipment could be worth as much as $2.8 billion. The White House has since confirmed a scheduled Oval Office meeting with executives from Exxon, Chevron, and ConocoPhillips to discuss Venezuela’s oil sector, signaling a broader strategic interest. Trump also instructed Energy Secretary Chris Wright to execute the transfer immediately, with storage ships already designated to move the oil to U.S. ports. Given that Venezuela holds the world’s largest proven crude reserves, the move underscores Washington’s expanding focus on the country’s natural resources.

The oil seizure has intensified speculation around Venezuela’s alleged Bitcoin reserves. For years, reports have suggested that the Maduro government accumulated cryptocurrency as a workaround to international sanctions. Estimates vary dramatically. Project Brazen has claimed Venezuela could control up to $60 billion in Bitcoin, while data from Bitcointreasuries.net suggests a much smaller figure of roughly 240 BTC, worth about $22 million. Neither claim has been independently verified, as no on-chain evidence, wallets, or custodians have been publicly identified.

Bitcoin presents a fundamentally different challenge than oil. Unlike physical commodities, cryptocurrency cannot be seized without private keys or cooperation from custodians under U.S. jurisdiction. Analysts believe Venezuela would have avoided U.S.-linked custodians due to sanctions, likely dispersing any holdings across multiple wallets. Still, if U.S. authorities were to obtain private keys from Maduro or close associates, Bitcoin could be transferred instantly, potentially enabling the largest crypto seizure in history.

The speculation is further fueled by Trump’s executive order to establish a strategic Bitcoin reserve at no cost to taxpayers. Confiscated Venezuelan Bitcoin, if proven and legally linked to criminal cases, could theoretically serve that goal. For now, Venezuelan oil is on its way to the United States, while any Bitcoin remains hidden behind unknown keys, adding another layer of intrigue to the evolving geopolitical and crypto landscape.