CoinDesk Podcast Network Does Venezuela Really Hold $60B in Bitcoin?
Jan 6, 2026
Mauricio Di Bartolomeo, co-founder of Ledn and Venezuelan bitcoin mining expert, shares his firsthand experiences in a country rife with systemic corruption and government crackdowns. He recounts his family's harrowing escape after their mining facility was seized, highlighting how hyperinflation led many Venezuelans to mining as a lifeline. Mauricio critically debunks claims of a $60 billion bitcoin reserve, attributing the implausibility to mismanagement and lack of evidence, while detailing the chaos that government interference has wrought on miners.
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Family Mining Raid And Escape
- Mauricio Di Bartolomeo recounts his family's Bitcoin mining facility being seized on January 18, 2018.
- His brother escaped with wealth already moved to Bitcoin, which allowed the family to rebuild outside Venezuela.
$60B Claim Doesn't Match Official Reserves
- The alleged $60B Venezuelan Bitcoin reserve conflicts with reported central bank reserves and timelines.
- Mauricio finds the scale and lack of on-chain evidence for the claimed 2018 gold-for-BTC swap implausible.
Custody Timeline Undermines Mastermind Theory
- Mauricio notes Alex Saab's custody from 2020–2023 makes it unlikely he orchestrated a massive 2018 BTC swap.
- He argues such a stash would have been noticed during Saab's detention and release negotiations.