Venezuela's alleged 600,000 BTC hoard based on gold sales math, not onchain proof

Analysts are examining claims that Venezuela may control a hidden Bitcoin reserve worth up to $60 billion, based on estimates from its gold sales since 2018. Blockchain intelligence firms say they have found no onchain evidence supporting a 600,000 BTC stash, even as Venezuela's long-running crypto experiments and use of digital wallets for oil trade keep its actual holdings opaque.