White House Crypto Adviser Signals “Big Announcement” on Strategic Bitcoin Reserve

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Patrick Witt, executive director of the President’s Council of Advisers for Digital Assets, said the White House will make a “big announcement” on the strategic Bitcoin reserve in the coming weeks. Speaking at the Bitcoin 2026 conference in Las Vegas on Monday, Witt said the administration believes it has reached a breakthrough on the executive branch side of the reserve’s implementation.

White House Team Claims a Breakthrough on Executive Branch Implementation

Witt said his team has been working through the legal and operational steps needed to formalize the reserve since President Trump signed the executive order creating it last year. The order established a strategic Bitcoin reserve and a separate digital asset stockpile, both funded primarily through assets the government already holds from criminal and civil forfeitures.

“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, specifically bitcoin that we have on the government balance sheet,” Witt said.

He framed the coming announcement as a step forward from the executive branch while legislation catches up.

“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. 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.”

Lummis and Begich Rename the BITCOIN Act as Congress Works to Codify the Reserve

Executive orders do not carry the same permanence as legislation, and Congressional efforts to lock the reserve into law are running in parallel. Senator Cynthia Lummis and Representative Nick Begich reintroduced the BITCOIN Act last year, a bill that builds on the executive order and includes language for acquiring 1 million Bitcoin over five years using budget-neutral strategies.

On Monday, Begich said the bill is being renamed the American Reserves Modernization Act, or ARMA. The renaming signals continued legislative momentum, though the bill has not yet reached a floor vote in either chamber. The White House did not immediately respond to a request for comment on the specifics of the coming announcement.