We report x-ray diffraction, electrical resistivity, and magnetoresistance measurements on Bi2Se3 under high pressure and low temperature conditions. Pressure induces profound changes in both the room temperature value of the electrical resistivity as well as the temperature dependence of the resistivity. Initially, pressure drives Bi2Se3 toward increasingly insulating behavior and then, at higher pressures, the sample appears to enter a fully metallic state coincident with a change in the crystal structure. Within the low pressure phase, Bi2Se3 exhibits an unusual field dependence of the transverse magnetoresistance Δρ(xx) that is positive at low fields and becomes negative at higher fields. Our results demonstrate that pressures below 8 GPa provide a non-chemical means to controllably reduce the bulk conductivity of Bi2Se3.