#MSCI未排除数字资产财库企业纳入范围 There have been recent discussions about rumors that the Venezuelan government secretly stockpiled hundreds of billions of dollars worth of Bitcoin. But upon closer inspection, this story doesn't hold up.

Several sources of the rumors sound quite plausible: selling gold for $BTC in 2018, exchanging oil for crypto assets, government confiscating mining rigs, etc. The problem is—there's no credible on-chain evidence linking these funds to Venezuelan government wallets. Nor is there sufficient proof that the gold was truly converted on a large scale into Bitcoin.

There's an even more sobering point: Venezuela is notorious for its severe corruption issues. Even if some crypto assets did come in, they are more likely to have ended up in the pockets of certain officials rather than the national treasury. Over the past few years, the state oil company has misappropriated significant funds, which are not reflected in official reserve data.

From a mining perspective, a more immediate issue is evident—the power infrastructure is too broken, with frequent outages, and the government lacks the capacity to operate large-scale Bitcoin mining stably. Overall, the claim that the Venezuelan government holds a "secret Bitcoin reserve" remains just speculation for now, with no concrete evidence found so far.