Lucía Peña
Coinbase executive Conor Grogan believes that President Donald Trump’s recent executive order to establish a Strategic Bitcoin Reserve could significantly reduce sell-side pressure in the crypto market.
“By my calculations, the U.S. government holds approximately 198,109 BTC. This executive order effectively removes around $18 billion worth of Bitcoin from potential selling pressure,” Grogan, Coinbase’s Director of Product Strategy and Business Operations, stated in a post on X Thursday.
Data from Arkham Intelligence confirms that the U.S. government’s digital asset portfolio includes:
- 198,109 BTC (valued at approximately $18 billion)
- 122 million USDT
- 56,035 ETH, along with various other tokens
The order, signed by President Trump, officially establishes both a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile, reinforcing the government’s long-term commitment to digital asset storage.
Bitcoin to Be Stored as a Long-Term Asset
White House AI and Crypto Czar David Sacks emphasized that the reserve will be funded with Bitcoin obtained through criminal and civil forfeiture proceedings.
“The U.S. will not sell any Bitcoin placed in the reserve. It will be maintained as a store of value, functioning as a ‘digital Fort Knox’ for Bitcoin,” Sacks explained in an X post.
The move has been widely interpreted as a bullish signal for the cryptocurrency market, as it removes a significant amount of government-held Bitcoin from circulation while reinforcing the institutional legitimacy of digital assets.
