Summary
- President Donald Trump's executive order on Bitcoin strategic reserves is analyzed to potentially remove about $18 billion worth of selling pressure.
- The US government reportedly holds 198,109 BTC among various other digital assets.
- The executive order plans to utilize existing confiscated assets rather than making additional purchases.
Analysis suggests that President Donald Trump's executive order on Bitcoin (BTC) strategic reserves will remove approximately $18 billion worth of selling pressure.
According to The Block on the 7th (local time), Conor Grogan, former head of product strategy and business operations at Coinbase, said via X, "President Donald Trump's executive order on Bitcoin strategic reserves could remove $18 billion worth of selling pressure."
According to Arkham Data, the US government currently holds about 198,109 BTC, as well as 122 million Tether (USDT) and 56,035 ETH. Meanwhile, the US government's executive order on Bitcoin strategic reserves aims to utilize existing confiscated assets rather than purchasing additional assets.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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