Recently, a hot topic has been circulating in the crypto circle—Venezuela is suspected to control Bitcoin reserves worth $60 billion. Once this news broke, the market reacted strongly—some were ecstatic, while others frowned.

According to rumors, Venezuela exchanges oil trade for BTC, with high-level officials controlling this asset. It sounds like a big move, but upon closer inspection, there are many issues.

First is the authenticity of the data. What does a $60 billion Bitcoin reserve mean? Based on current prices, this is no small number. But the problem is, the authorities have never provided official confirmation, and most of the information available comes from rumors and speculation. There is no transparent on-chain evidence, no official announcement, and no third-party audit confirmation. The reliability of such information sources itself is questionable.

Second are operational challenges. Accumulating such a large amount of BTC involves high risks at every stage—from procurement to storage to management. Market volatility, technical security, capital chain management... any problem could trigger a chain reaction. Moreover, if they truly hold so much Bitcoin, market rumors could amplify price fluctuations once detected.

Looking at the international environment, Venezuela already faces strict international sanctions. Engaging in large-scale crypto asset operations under such circumstances adds leverage to the sanctions. Regulatory authorities worldwide won't sit idly by.

So, this story is interesting, and the data indeed exists, but before any concrete evidence is confirmed, we should remain rational. The crypto market is turbulent, and risks are everywhere. It's fine to listen to stories, but be cautious about going all in.