Coinbase Executive Says Trump’s Bitcoin Reserve Can Reduce $18 Billion of Sell-Side Pressure

A proposition to establish a national Bitcoin reserve in the United States, championed by Donald Trump, could substantially lessen the downward pressure on Bitcoin’s market price, according to a high-ranking Coinbase official.

Conor Grogan, Director of Product Strategy and Business Operations at Coinbase, suggested that such a strategic move by the U.S. government could effectively remove a significant volume of Bitcoin supply from potential market circulation.

Current estimates from Arkham Intelligence indicate that the U.S. federal government is already a considerable holder of Bitcoin, possessing approximately 198,109 BTC.

According to Grogan, President Trump’s recent executive order aimed at creating a “Strategic Bitcoin Reserve” might alleviate what he terms “massive sell-side pressure.”

In a post on X (formerly Twitter) on Thursday, Grogan elaborated on his analysis. “My calculations suggest the U.S. government currently possesses 198,109 BTC,” he stated.

“This executive initiative effectively neutralizes approximately $18 billion in potential sell orders,” he further noted, referencing the significant value of these holdings.

Data from Arkham Intelligence corroborates the estimated Bitcoin holdings, additionally revealing substantial U.S. government reserves in other digital assets, including 122 million USDT and 56,035 ETH, among various other tokens.

Executive Order Could Lock Up $18 Billion in Coinbase, Potentially Stabilizing Market

David Sacks, identified as the White House AI and Crypto Czar, indicated on Thursday that President Trump had indeed signed an executive order to institute both a Strategic Bitcoin Reserve and a “U.S. Digital Asset Stockpile.”

Sacks detailed in an X post that the envisioned reserve would be funded with Bitcoin already in government possession, specifically assets seized through criminal and civil forfeiture processes.

He emphasized that the U.S. would commit to a policy of non-disposal of Bitcoin deposited into this reserve, intending to maintain it as a long-term store of value, analogous to a “digital Fort Knox” for the premier cryptocurrency.

It is worth noting that the price of Bitcoin experienced a 5% decrease over the preceding 24-hour period, trading at $85,798 at the time of this report, as recorded by The Block’s price index.

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