The White House is preparing for a major announcement regarding the US Strategic Bitcoin Reserve, according to cryptocurrency consultant Patrick Witt, who said the administration has achieved what he described as a “breakthrough” on the executive branch side of policy.
The US Strategic Bitcoin Reserve may get an update soon
Speaking Monday at the Bitcoin 2026 conference in Las Vegas, Witt said the government is working through the legal and operational details needed to formalize how federally owned bitcoin will be protected and treated on the balance sheet. His comments suggest near-term policy action on the part of the administration, even as lawmakers continue to work on legislation to codify the reserve into law.
“The President signed the Executive Order for the Bitcoin Strategic Reserve last year, and we have gone to work figuring out the necessary machinations and legal interpretations we need to obtain and enshrine this right and protect digital assets, but specifically Bitcoin, which we have on the government’s balance sheet,” Witt said. “So, in the next few weeks, we’ll be making a big announcement. I think we’ve got some progress there, and that obviously needs to be followed up with legislation.”
executive order, It was signed on March 6, 2025created a strategic BTC reserve and a separate stockpile for US digital assets. It has directed that confiscated government bitcoin placed in reserve “shall not be sold” and called on the Department of Treasury and Commerce to develop budget-neutral strategies to obtain additional bitcoin without imposing additional costs on taxpayers.
This structure is key to why Witt frames the upcoming announcement as a step forward, but not as a final stage. The administration can take action on detention, Agency coordination Legal interpretation is through the executive branch, but a more permanent reserve policy would likely require Congress to act.
“Senator Lummis’ Bitcoin bill has died in the House, and Rep. Begich talked about his ARMA law, so we need to write it down,” Witt said. “But in the meantime, we believe we will be able to take a big step forward from the executive branch in the next few weeks.”
White House Cryptocurrency Advisor Patrick Witt on our strategy $ Bitcoin Reserve:
“In the next few weeks, we’ll make a big announcement. I think we have some progress there.” https://t.co/Tid9XAIuiS pic.twitter.com/l9Z4PJmpmA
– Wolf of All Streets (scottmelker) April 27, 2026
The legislative track is also moving. On another committee, Representative Nick Begich He said Legislation to create 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 is based on the Bitcoin law he originally presented Senator Cynthia Lummis In the 118th Congress and was reintroduced in the Senate in the current 119th Congress. Begich said his office was working with Lummis’ team and the House Financial Services Committee on revisions aimed at improving the bill’s path through Congress. Begich and Loomis previously introduced the Bitcoin Act of 2025 in March 2025, describing it as legislation to create a strategic reserve for Bitcoin in law.
“And why rename? Because it’s so important for people in Congress and across the country to understand what we’re actually trying to do,” Begich said. “We’re trying to make sure that bitcoin is treated as a reserve asset. We want to make sure that we have a place to store our bitcoin, that it’s going to be held for a long period of time, and that it’s going to be prevented from being tied to it, right?”
Begic said the goal is to prevent the reserve from becoming another short-term policy tool. In its description, ARMA would limit where bitcoins are held across government agencies, place them in responsible custody, and restrict the ability to lend against them or subject them to a variable reserves policy.
At press time, Bitcoin was trading at $76,941.
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