US Government Sells Bitcoin Despite Trump Reserve Order, Venezuela Holdings Remain Unverified

US Liquidates Bitcoin From Samourai Wallet Case

The United States government sold approximately 57.5 Bitcoin worth over $6.3 million in early November, according to court documents obtained by Bitcoin Magazine, despite President Donald Trump's executive order establishing a strategic Bitcoin reserve ^[1].

The sale stems from an "Asset Liquidation Agreement" signed by deputy prosecutors on November 3, involving Bitcoin transferred by Keonne Rodriguez and William Hill, the convicted founders of privacy-focused Samourai Wallet. The two developers were sentenced for operating an unlicensed money transmission service ^[1].

According to the agreement, Rodriguez and Hill were required to transfer $6,367,139.69 worth of Bitcoin from a specified wallet address to the United States Marshals Service (USMS). The document authorized the USMS to immediately liquidate the cryptocurrency through an exchange of its choosing, with transaction fees deducted from the proceeds and paid by the defendants ^[1].

Blockchain data confirms that the Bitcoin was transferred from the address listed in the court document on November 3 and immediately forwarded to a Coinbase Prime deposit address ^[1].

Apparent Contradiction With Trump's Reserve Directive

In March, Trump signed an executive order creating a strategic Bitcoin reserve and stated at a White House crypto summit that America would follow the principle of "never sell your Bitcoin." Trump criticized previous government Bitcoin sales during the event ^[1].

However, the executive order specifically prohibits only the sale of Bitcoin "deposited into the strategic Bitcoin reserve," not all government-held cryptocurrency. The order states that Bitcoin in the reserve "may not be sold" and must be held as reserve assets for achieving government objectives in accordance with applicable law ^[1].

The directive also permits Bitcoin liquidation in specific circumstances, including compensating victims and complying with court orders. In October, authorities reportedly sold 667 BTC to reimburse victims of a Ponzi scheme ^[1].

Unlike that case, the Samourai situation involves no direct victims who could claim restitution. Whether legal requirements mandated the sale remains unclear, and authorities have not issued a statement regarding the liquidation's compatibility with the strategic reserve policy ^[1].

Venezuela's Alleged Bitcoin Holdings Unproven

Separately, renewed speculation about Venezuela potentially holding a hidden Bitcoin reserve of up to 600,000 BTC has drawn scrutiny from blockchain analysts, who say such claims remain unsubstantiated ^[2].

Investigative journalist Bradley Hope outlined a theory that Venezuela may have converted gold into cryptocurrency over several years, potentially creating a reserve worth up to $60 billion. Hope's report, published by the newsletter Whale Hunting, mentioned "sources describe a Swiss lawyer who controls wallet access" and raised questions about the involvement of Alex Saab, Venezuela's minister of industry and national production ^[2].

However, major blockchain intelligence platforms have found no proof of such holdings. "If they actually possessed 600,000 Bitcoin, then they managed to fool a lot of blockchain analysts," Whale Alert co-founder Frank Weert told Cointelegraph, adding that serious proof would be needed for such a claim ^[2].

The 600,000 BTC figure is not based on blockchain evidence but rather on a mathematical estimate derived from Venezuela's gold sales since 2018, including a 73-ton sale that year representing approximately 40% of the country's gold reserves ^[2].

Challenges in Tracking Government Crypto Holdings

Ari Redbord, global head of policy at TRM Labs, noted that Venezuela's government has experimented with cryptocurrencies for years, launching its oil-backed Petro currency in 2018 before shutting it down after six years. The government directed state entities to adopt crypto-based payment mechanisms, particularly for oil-related and cross-border transactions ^[2].

Aurelie Barthere, head of research at Nansen, explained that attribution remains difficult because of "fragmented unhosted wallets and specialized offshore over-the-counter brokers to mask the ultimate destination of funds." Multiple obfuscation methods including coin mixers, cross-chain swaps, and state-controlled mining can maintain plausible deniability unless private keys are compromised ^[2].

Venezuela ranks 11th among the top 20 countries for crypto adoption in 2025, according to TRM Labs, though the government's actual cryptocurrency holdings remain opaque ^[2].