The market is watching Venezuela's $17 trillion oil reserves but ignoring the real dark horse: a Bitcoin shadow reserve close in size to BlackRock and MicroStrategy. Multiple intelligence sources indicate that since 2018, Venezuela has been gradually "laundering" income from gold and crude oil into BTC through gold swaps, forced oil trade settlements in USDT, and confiscation of mining farms. The total is estimated to be between 600,000 and 660,000 BTC, which at current prices amounts to $56 billion to $67 billion. This is not retail investor holdings but national-level chips capable of changing the supply and demand structure. The key is not whether they will sell but whether they can move at all. A more realistic scenario is that these assets could be frozen by the US judicial system or converted into strategic reserves, meaning about 3% of circulating BTC could be locked away long-term. The historical comparison is harsh: Germany's sale of 50,000 BTC in 2024 could trigger a 15% to 20% correction, but if 600,000 BTC were frozen, the effect would be the opposite—a massive supply lock. Short-term volatility is inevitable, but from a second-order effect, this seems more like laying an invisible foundation for Bitcoin's price in 2026. The truly underestimated asset is not oil but this national-level Bitcoin whale. $BTC #比特币六连涨