US Government’s Strategic Bitcoin Reserve: 198,109 Bitcoins Unveiled in Executive Order

In a recent announcement, Coinbase executive Conor Grogan highlighted that the US government currently possesses approximately 198,109 bitcoins. He emphasized that this strategic executive order is poised to mitigate selling pressure, potentially reducing it by around $18 billion. This development is particularly significant for the cryptocurrency market, as it underscores the federal government’s proactive stance in managing its digital asset portfolio.

Additionally, David Sacks, the White House AI and Cryptocurrency Czar, confirmed on social media that President Trump has officially signed an executive order aimed at establishing a strategic Bitcoin reserve. This newly formed reserve will serve as a financial tool, utilizing bitcoins that have been confiscated via criminal or civil asset forfeiture. Such measures are expected to stabilize the market while reinforcing the government’s role in the cryptocurrency landscape.