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>>The United States plans to seize and manage Venezuela's Bitcoin reserves after Maduro's takeover.

The United States plans to seize and manage Venezuela's Bitcoin reserves after Maduro's takeover.

crypthub

4 days ago

US Action on Venezuelan Bitcoin

The United States is reportedly preparing to freeze and seize Bitcoin held by Venezuela following Nicolás Maduro’s arrest and narco‑terrorism charges in New York. Crypto markets reacted instantly, with Bitcoin rallying past $94,000. The surge reflected trader optimism about political change and potential asset recovery.

Oil Supply Impact

Analysts expect Maduro’s removal could unlock Venezuela’s estimated $17 trillion of untapped crude, increasing global oil flow and lowering energy prices. A price rise in Bitcoin also reclaimed its 50‑day moving average, prompting short liquidations. The outlook is viewed as disinflationary and risk‑on, opposite to last summer’s Iran‑related slump.

Venezuela’s Crypto History

Venezuela turned to crypto amid hyperinflation, with households mining Bitcoin and Ethereum since 2017. Official data once listed 240 BTC (~$22 million), but other estimates suggest up to 600,000 BTC—roughly $60 billion and 3 % of supply—held in shadow reserves. Crypto remains a key financial tool for the nation.

Energy Leaders’ Upcoming Meeting

U.S. Energy Secretary Chris Wright will attend a Goldman Sachs‑hosted conference in Miami alongside executives from Chevron and ConocoPhillips. The event highlights the growing intersection of traditional energy and digital assets.