US Secures 65 Billion Barrels of Venezuelan Oil: Could This Be Bullish for Bitcoin?

The United States has secured majority control of more than 65 billion barrels of Venezuela’s oil reserves, which could reshape global energy markets, but does it actually matter for bitcoin and crypto?

President Trump announced on Friday that the US had secured majority control through an agreement involving Washington, Venezuela, and private businesses.

He called it the “biggest oil deal in world history” and said it would substantially increase America’s effective oil reserves and ultimately bring down fuel prices.

65 Billion Barrels, But There’s a Catch The analysts at the Kobeissi Letter noted that the US currently has around 46 billion barrels of proven domestic crude reserves.