Does Venezuela have 600,000 Bitcoins? ‘Shadow reserve’ rumor pushes crypto markets

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Last Updated on 7 January 2026 by CryptoTips.eu

According to unconfirmed rumors, the Bitcoin price is rising this week partly because the Venezuelan government holds a secret Bitcoin stash worth around $60 billion.

At the time of writing, Bitcoin is trading for $92,500.

Official figures indicate that Venezuela holds only 240 Bitcoins, but rumors suggest that Venezuela has converted all gold and oil revenues into Bitcoin since 2018 (as its own fiat currency had become virtually worthless due to skyrocketing inflation).

 

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If Venezuela does indeed possess such a reserve, it would immediately become one of the largest Bitcoin hodlers in the world. Their stash worth $60 billion (for their 600,000 or so Bitcoins) would place Venezuela, in terms of size, only behind Strategy and almost double the reserves of the United States itself. The rumor has been repeated so often that it made it onto CNBC.

These same reports claim that Venezuela has been using the stablecoin USDT (Tether) for their oil transactions since early 2024. The country launched a state-backed digital currency called the Petro (in a clear reference to the ‘petrodollars’) back in 2018, but it was discontinued in 2024, after which the Venezuelan government switched to USDT apparently.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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