Ousting Maduro “is not a direct bullish catalyst” for bitcoin, but the geopolitical conflict points to cryptocurrencies’ real-world utility, one analyst said.
Bitcoin (BTCUSD) appears to have climbed out of a rut following the surprise capture by the U.S. of Venezuelan president Nicolás Maduro over the weekend.
The world’s largest cryptocurrency underperformed the broader stock market last year, but is starting to show signs of life — it rose above $94,000 as of Monday afternoon, levels unseen in weeks. Crypto-linked stocks including Coinbase Global (COIN) and Strategy (MSTR) each rose at least 4%. Oil industry stocks also jumped, on hopes that U.S. energy companies will benefit from a revival of Venezuela’s oil industry.
“Escalating pressure without direct military conflict” is supportive of bitcoin, reinforcing its appeal as a decentralized asset amid geopolitical uncertainty, according to an analyst at crypto derivatives exchange Bitunix. In other words, bitcoin’s usefulness as a hedge is helping lift prices rather than a broad recovery in appetite for risk assets.
Ousting Maduro “is not a direct bullish catalyst,” for bitcoin, according to Dean Chen, a Bitunix analyst, but it may be an indirect one.
“For an economy like Venezuela’s, which is heavily dependent on oil exports, locking up energy exports effectively locks up foreign exchange inflows,” he told Investopedia, “Historically, every episode of intensified sanctions, SWIFT restrictions or tighter capital controls has been accompanied by rising real-world demand for bitcoin in affected regions.”
Venezuela’s embrace of cryptocurrency shows how — its private sector uses it to address sanctions risk, and citizens have adopted it as a more stable alternative to the country’s bolívar.
State-run oil company PDVSA was said to have increased its use of dollar-pegged stablecoins, digital currency designed to maintain a stable value, starting in 2024 after the US reimposed sanctions. Maduro has also dabbled in “cryptocurrency,” creating something called the e-Petro that was supposedly backed by the country’s oil and gas reserves; it launched in 2018 but was not widely adopted.
The country is also among the top five in the Latin America region for cryptocurrency adoption, logging almost $45 billion in related transaction volume from July 2024 to June 2025, according to the most recent data compiled by blockchain research firm Chainalysis.
Maduro’s arrest was a “symbolic trigger” that helped boost bitcoin prices, Chen said.
