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Don't hold your breath for Venezuela's bitcoin
Source: CryptoNewsNet Original Title: Don’t hold your breath for Venezuela’s bitcoin Original Link: https://cryptonews.net/news/mining/32235359/ Recent speculation suggests that the Venezuelan regime could hold a secret stash of bitcoin, potentially valued at upwards of $60 billion. But the claim appears to be rooted in conjecture and secondhand reporting, lacking credible onchain evidence tying those funds to state-controlled wallets. As a born and raised Venezuelan who mined bitcoin in the country for years, I don’t believe the Venezuelan regime holds a massive secret stash of bitcoin, and I’ll explain why.
Breaking Down the Allegations
The claims from several articles suggest that the sources for the regime’s bitcoin stash were:
I do believe, and it has also been reported, that Venezuela received payment for some oil sales in crypto. And I know for a fact that it stole mining equipment — some of it was my family’s. However, I haven’t seen credible evidence that the 2018 gold sale was converted into bitcoin, and given what we know about the key players, it’s unlikely.