The White House is preparing a major announcement on the US Strategic Bitcoin Reserve, according to crypto advisor Patrick Witt, who said the administration has made what he described as a “breakthrough” on the executive-branch side of the policy.
US Strategic Bitcoin Reserve May Get An Update Soon
Speaking Monday at the Bitcoin 2026 conference in Las Vegas, Witt said the government has been working through the legal and operational details needed to formalize how federally held Bitcoin should be protected and treated on the balance sheet. His comments point to a near-term policy move from the administration, even as lawmakers continue working on legislation to codify the reserve in statute.
“The President signed the Strategic Bitcoin Reserve Executive Order last year, and we’ve gone to work in figuring out exactly the machinations necessary and legal interpretations that we need to get that right and solidify that and protect the digital assets, but specifically Bitcoin, that we have on the government balance sheet,” Witt said. “So in the next few weeks, we’ll be making a big announcement. I think we have a bit of a breakthrough there, and obviously that needs to be followed up with legislation.”
The executive order, signed on March 6, 2025, established the Strategic BTC Reserve and a separate US Digital Asset Stockpile. It directed that forfeited government Bitcoin placed into the reserve “shall not be sold” and called for Treasury and Commerce to develop budget-neutral strategies for acquiring additional Bitcoin without imposing incremental taxpayer costs.
That structure is central to why Witt framed the coming announcement as a step forward, but not the final stage. The administration can move on custody, agency coordination and legal interpretation through executive authority, but a more durable reserve policy would likely require Congress to act.
“Senator Lummis’ Bitcoin Act over in the House, Representative Begich has talked about the ARMA Act that he has put together, so we need to codify it,” Witt said. “But in the meantime, we do believe we’re going to be able to take a big step forward from the executive branch side in the next few weeks.”
WHITE HOUSE CRYPTO ADVISOR PATRICK WITT ON US STRATEGIC $BTC RESERVE:
“IN THE NEXT FEW WEEKS, WE’LL BE MAKING A BIG ANNOUNCEMENT. I THINK WE HAVE A BIT OF A BREAKTHROUGH THERE.” https://t.co/Tid9XAIuiS pic.twitter.com/l9Z4PJmpmA
— The Wolf Of All Streets (@scottmelker) April 27, 2026
The legislative track is also moving. On another panel, Rep. Nick Begich said legislation to establish a US strategic Bitcoin reserve is set to be reintroduced in the next few weeks under a new name: the American Reserves Modernization Act, or ARMA.
Begich said the proposal builds on the Bitcoin Act originally introduced by Sen. Cynthia Lummis in the 118th Congress and reintroduced in the Senate in the current 119th Congress. Begich said his office has been working with Lummis’ team and the House Financial Services Committee on revisions aimed at improving the bill’s path through Congress. Begich and Lummis previously introduced the BITCOIN Act of 2025 in March 2025, describing it as legislation to establish a Strategic BTC Reserve in law.
“And why the renaming? Because it’s so important for people both in Congress and across the nation to understand what we’re actually trying to do,” Begich said. “We’re trying to make sure that Bitcoin is treated like the reserve asset that it is. We want to make sure that we have a place to store our Bitcoin, that that Bitcoin is going to be held for a long period of time, that it’s going to be prevented from being attached, right?”
Begich said the goal is to prevent the reserve from becoming another short-term political instrument. In his description, ARMA would identify where BTC is held across government agencies, place it into responsible custody, and restrict the ability to lend against it or subject it to shifting reserves policy.
At press time, BTC traded at $76,941.
Featured image created with DALL.E, chart from TradingView.com
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