US Government Establishes Strategic Bitcoin Reserve with 198,109 BTC

On Thursday, the U.S. government established a Strategic Bitcoin Reserve, potentially relieving significant sell-side pressure on the market. According to Arkham Intelligence, the U.S. government currently holds approximately 198,109 BTC. Coinbase executive Conor Grogan estimates this executive order removes roughly $18 billion of potential sell pressure. The reserve, initiated by President Trump, will be capitalized with Bitcoin forfeited from criminal or civil asset forfeiture proceedings and will not be sold, functioning as a "digital Fort Knox." Bitcoin's price saw a 5% decrease in the last 24 hours, trading at $85,798 (The Block).