Paul Atkins, chairman of the Securities and Exchange Commission (SEC), has expressed uncertainty about whether the US will seize the alleged $60 billion worth of Bitcoin held by Venezuela.
When asked in a recent interview with Fox Business whether the US government would go for the BTC supply, he responded said,
“That remains to be seen. But I’m not involved in that and I’ll leave it to others in the government to deal with that.”
Following recent US ownership claims over Venezuelan oil following the arrest of President Nicolas Maduro, there has been speculation that the country for its alleged $60 billion in BTC.
However, at the time of writing, the existence of the alleged Bitcoin stash in Venezuela had yet to be proven.
Even the blockchain intelligence platform Arkham had yet to verify it Bitcoin stock claims. In a recent statement, Matteo Colledan, VP of Business Development at Arkham said:
“We have not identified any such holdings at this time. We are still assessing whether any holdings exist.”
Assessment of Venezuela’s crypto adoption
According to Chainalysis, Venezuela has become the fourth largest country in Latin America, based on the value of cryptocurrency received between mid-2024 and mid-2025. facts. It received $44.6 billion during this period.
Source: Chain analysis
According to blockchain security firm Chainalysis, mass adoption of crypto in LATAM is fueled by persistent inflation and sanctions. For citizens, it emerged as a new lifeline after hyperinflation.
However, for the Venezuelan government it was reportedly a tool to circumvent US sanctions on the oil sector, mainly through USDT and Bitcoin. Sanctioned crypto flows played a prominent role in illicit crypto activities in 2025, from Venezuela to Russia.
Basically Chain Analysis marked that the inflow to sanctioned addresses and jurisdictions increased by 694% in 2025. This coincided with a rise in geopolitical tensions.
Source: Chain analysis
The most preferred crypto assets to bypass capital controls have become stablecoins and Bitcoin.
However, it is worth pointing out that speculation has placed the so-called “shadowy” Venezuelan BTC supply at around 600,000 coins. At the market price of $94,000 per coin, that would be worth $56.4 billion.
Unfortunately, at the time of writing, the official and verified BTC currently held by the Venezuelan government was only worth $22.61 million (240 BTC), according to Bitcoin Treasuries. facts. It remains to be seen whether the remainder of the alleged stockpile will be fully accounted for.
Final thoughts
- SEC Chairman Paul Atkins expressed uncertainty about the US government’s next steps regarding the alleged Venezuelan crypto stock.
- At the time of writing, verified Venezuelan government addresses only contained $22.6 million worth of BTC.