Uncertainty Surrounds Potential Seizure of Venezuela's Bitcoin by U.S.

Uncertainty Surrounds Potential Seizure of Venezuela's Bitcoin by U.S. - SEC Chair

Paul Atkins, the Chairman of the U.S. Securities and Exchange Commission (SEC), has voiced uncertainty about the government's intentions regarding an alleged Bitcoin cache valued at $60 billion, purportedly held by Venezuela. This discussion follows claims of U.S. ownership over Venezuelan oil. However, the existence of this Bitcoin stash remains unverified.

Key Takeaways

SEC Chair Paul Atkins is unsure if the U.S. will seize Venezuela's alleged $60 billion Bitcoin stash.
The Venezuelan Bitcoin holdings have not yet been confirmed by blockchain intelligence platforms.
Venezuela has emerged as a significant player in the cryptocurrency space, particularly in Latin America.
Crypto adoption in Venezuela has surged, mainly due to soaring inflation and sanctions.
Speculations suggest that Venezuela may hold around 600,000 BTC, but verified amounts are much lower.

SEC Chair's Remarks on Venezuela's Bitcoin

Paul Atkins, the Chairman of the Securities and Exchange Commission (SEC), expressed doubt over whether the U.S. government would attempt to seize the rumored $60 billion worth of Bitcoin that Venezuela allegedly possesses. In a recent Fox Business interview, Atkins stated, "That remains to be seen. But I’m not involved with that, and I’ll leave it for others in the Administration to deal with that."

This conversation follows recent claims of U.S. ownership relating to Venezuelan oil after the capture of President Nicolás Maduro, leading to speculation about targeting the suspected Bitcoin holdings. However, the existence of these Bitcoin reserves is still unverified at this stage.

Even Arkham, a blockchain intelligence platform, has not confirmed these claims. Matteo Colledan, the VP of Business Development at Arkham, remarked, "We have not identified any such holdings at present. We are still assessing whether any holdings exist."

Venezuela's Growing Crypto Adoption

According to Chainalysis data, between mid-2024 and mid-2025, Venezuela ranked as the fourth-largest country in Latin America for the value of cryptocurrency received, totaling $44.6 billion.

Venezuela crypto stash
Source: Chainalysis

Chainalysis reports that the surge in cryptocurrency adoption in LATAM is primarily driven by ongoing inflation and sanctions, with citizens turning to it as a vital form of financial relief. For the Venezuelan government, cryptocurrency has reportedly served as a means to circumvent U.S. sanctions on its oil sector, utilizing assets like USDT and Bitcoin. In fact, illicit crypto transactions involving sanctioned crypto flows increased significantly in 2025, particularly between Venezuela and Russia.

In a notable uptick linked to rising geopolitical tensions, Chainalysis found that inflows into sanctioned addresses and jurisdictions soared by 694% in 2025.

Venezuela crypto stash
Source: Chainalysis

Among the crypto assets used to navigate capital controls, stablecoins and Bitcoin have become particularly popular. Speculations have suggested that the total alleged Bitcoin stash for Venezuela could reach around 600,000 coins, valued at approximately $56.4 billion based on the current market price of $94,000 per coin. However, data from Bitcoin Treasuries indicates that the government only officially holds about $22.61 million worth of Bitcoin (240 BTC) at this time, leaving uncertainty regarding the rest of the alleged holdings.

Conclusion

As discussions continue about the potential for the U.S. to seize Venezuela's Bitcoin stash, much remains unconfirmed. The situation reflects the complexities of cryptocurrency's role in global finance, especially in the context of sanctions and geopolitical tensions.