Coinbase Executive: Anticipates US Strategic Bitcoin Reserve Executive Order Will Reduce $18 Billion Bitcoin Dump

BlockBeats News, March 7th, Coinbase executive Conor Grogan posted on social media, stating, "Based on my estimate, the U.S. government holds 198,109 bitcoins. This executive order will reduce approximately $18 billion worth of selling pressure."

Previously reported, White House AI and Cryptocurrency Czar David Sacks posted on social media, "Just a few minutes ago, President Trump signed an executive order establishing a strategic Bitcoin reserve. This reserve will be capitalized with bitcoins owned by the federal government, which have been confiscated through criminal or civil asset forfeiture proceedings."