Venezuela's practice of using oil to exchange for Bitcoin to stockpile assets in order to evade US dollar sanctions is actually quite similar to a besieged city starting to hoard gold when cut off from outside supplies.

The $60 billion $BTC reserve is indeed a significant number, but I think people may overestimate its actual impact on the market. The reasons are simple:
First, these coins are not part of normal trading circulation, and Venezuela can't just sell them on Coinbase. So even if they are frozen by the US, the marginal effect on supply and demand balance is actually limited.
Second, the real issue is that if the US actually seizes this batch of coins, it would be like declaring to the world: holding BTC could also be confiscated for political reasons. Once this precedent is set, it might cause other countries and institutions to doubt BTC as a reserve asset.
From a trading perspective, I think this is more like a "Schrödinger's good news"—the market might hype up the concept of supply locking, but in the long run, the value of BTC will still return to real adoption and liquidity.
After all, frozen assets and destroyed assets evoke completely different psychological responses in the market.