SEC Chair's Statement Sparks Market: Will the US Seize Venezuela's "Strategic Bitcoin Reserves"?

January 12, 2026, the Chairman of the U.S. Securities and Exchange Commission (SEC), Paul Atkins, gave a vague yet pivotal response during an interview with Fox Business Channel regarding how to handle the rumored massive Bitcoin holdings held by Venezuela. When asked whether the United States would “take these Bitcoins,” Atkins stated that “it’s still to be seen” and clarified that the SEC does not participate in such decisions.

Key Events

A televised interview with SEC Chairman Paul Atkins has closely linked geopolitics with the cryptocurrency market. Confronted with host Stuart Varney’s direct question about whether the U.S. might confiscate Venezuela’s Bitcoin holdings, Atkins provided a cautious official response. He indicated that any related actions would be decided by other government agencies, and the SEC is not involved.

Blockchain analysts currently cannot verify whether Venezuela indeed holds Bitcoin worth up to $60 billion. This news first surfaced in early January 2026 after the U.S., under President Trump’s directive, detained Venezuelan President Nicolás Maduro.

The Reserve Mystery

According to reports from multiple market analysis firms and The Wall Street Journal, the Maduro government has built a large digital asset reserve over the years through complex mechanisms. This so-called “shadow reserve” portfolio has mainly accumulated through three channels:

Between 2018 and 2020, Venezuela used “gold swap” operations to convert part of the proceeds from gold sales into Bitcoin. As disclosed by analyst Serenity, these Bitcoins, purchased at an average price of about $5,000, are now valued at approximately $45 billion to $50 billion.

From 2023 to 2025, to evade sanctions, Venezuela’s state oil company required some crude oil exports to be settled in USDT, then exchanged the stablecoins for Bitcoin, forming a Bitcoin holding of about $10 billion to $15 billion.

From 2023 to 2024, the Venezuelan government seized domestic illegal Bitcoin mining farms, gaining an additional Bitcoin worth about $500 million.

In total, it is estimated that Venezuela may have accumulated between 600,000 and 660,000 Bitcoins from 2018 to 2026, accounting for roughly 3% of the total global Bitcoin supply, with a value between $56 billion and $67 billion.

U.S. Options

As the U.S. becomes substantively involved in Venezuela’s situation, how to handle this massive Bitcoin reserve has become the market’s most concerned variable. Analysts generally believe there are three possible options.

The first possibility is asset freeze and custody, temporarily controlled by the U.S. Treasury or relevant agencies, not entering the market in the short term. This approach would directly lock a large supply of Bitcoin.

The second possibility is inclusion in the U.S. strategic reserve. In fact, there are signs that the U.S. policy on confiscated Bitcoin is shifting. On January 8, 2026, Scott Bessent revealed on Fox Business Channel that the U.S. has begun holding confiscated Bitcoin as strategic reserves rather than selling immediately.

The third, and most concerning, option is rapid liquidation via auction or trading platforms. However, considering that such a large-scale sell-off could trigger severe market shocks, the likelihood of this scenario is considered the lowest.

Market Impact

Regardless of the final approach, the fate of this massive Bitcoin reserve held by Venezuela will have a profound impact on the Bitcoin market.

According to Gate data, as of January 13, 2026, Bitcoin (BTC) is priced at $91,263.4, with a 24-hour trading volume of approximately $989 million, a total market cap of $1.82 trillion, and a market share of 56.04%. Over the past 24 hours, the price has slightly retreated by 0.05%, remaining near the $91,000 mark with narrow fluctuations.

Market opinions suggest that if about 3% of the global circulating supply of Bitcoin is locked for the long term, it will further reinforce Bitcoin’s scarcity narrative and provide structural support for its medium- to long-term price.

Historical cases offer some reference. In 2024, the German government sold about 50,000 Bitcoins, which caused a temporary correction of 15%–20%. In comparison, Venezuela’s potential Bitcoin holdings are more than 12 times that amount, making the potential impact significantly more profound.

Regulatory Developments

This geopolitical event occurs at a critical juncture in U.S. cryptocurrency regulation. The U.S. Senate Banking Committee has announced that it will review the “Digital Asset Market Clarity Act” on January 15, 2026. This bill aims to clarify classification standards for digital assets and regulatory responsibilities, providing a clear legal framework for the industry. Senate Banking Committee Chairman Tim Scott stated, “This legislation is to make the U.S. the world’s crypto capital—creating jobs and innovation here, not overseas.”

Legislation on market structure is seen as a key turning point for the development of the crypto industry in the U.S. Clear rules are expected to unlock more institutional participation, reduce operational risks, and offer a more predictable regulatory environment for long-term capital.

Price Analysis

From a price trend perspective, Bitcoin has recently been consolidating above $90,000. Compared to the all-time high of $126,000 reached in October 2025, the correction is about 30%, and the market is in a phase of high-level oscillation and re-pricing.

Data from the Gate platform shows that current investor sentiment is generally cautious, with the market awaiting multiple policy signals from Washington. On one hand, the Federal Reserve’s future interest rate path remains uncertain; on the other hand, geopolitical variables (such as Venezuela’s Bitcoin reserves) and the U.S. crypto legislation process could be key factors influencing market movements.

Gabe Serbi, Head of Research at CF Benchmarks, pointed out that with continued institutional inflows and an improving macro environment in 2026, Bitcoin’s price could rise approximately 15% from current levels, targeting around $102,000.

Meanwhile, the assets under management of 14 spot Bitcoin ETFs in the U.S. have exceeded $100 billion, with BlackRock’s iShares Bitcoin Trust (IBIT) leading at about $67 billion. The institutional allocation trend continues to strengthen.

When asked about the fate of this $60 billion worth of Bitcoin, SEC Chairman’s response is as uncertain as the cryptocurrency market itself. But what is certain is that whether this Bitcoin is ultimately frozen, absorbed, or auctioned by Washington, it could become a lever to move the market. A Wall Street analyst wrote in a report: “Venezuela inadvertently created the world’s largest national Bitcoin cold wallet, and the keys may now be in U.S. hands.”

Just weeks ago, the U.S. shifted its policy on confiscated Bitcoin, beginning to hold it as strategic reserves rather than selling immediately. Now, facing the potential to acquire up to 660,000 Bitcoins, which way will Washington’s policy tilt? The global crypto market is holding its breath, not only for the fate of a sovereign nation’s assets but also for a real-life script about Bitcoin’s new role in the global financial system.