White House Adviser Teases ‘Big’ Bitcoin Reserve Announcement

Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, told attendees at the Bitcoin 2026 conference in Las Vegas that a ‘big announcement' on next steps for President Trump's strategic bitcoin reserve is expected within weeks. Lawmakers are working to turn the administration's plan into law.

Witt described ongoing work to translate the 2025 executive order that created the reserve into formal policies and procedures. He said officials have been reviewing legal and operational details to protect the bitcoin the government now holds and to set clear rules for custody and reporting.

The 2025 executive order directed federal agencies to assemble a strategic bitcoin reserve. The administration plans to fund the reserve mainly with bitcoin already in government possession through criminal or civil forfeiture actions, along with a separately authorized digital asset stockpile. Executive orders can be changed by future presidents, and members of Congress are drafting legislation to give the reserve a statutory basis.

Sen. Cynthia Lummis, R-Wyo., and Rep. Nick Begich, R-Alaska, reintroduced last year the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act, known as the BITCOIN Act. The bill expands on the executive order and includes provisions to acquire up to 1 million bitcoin over five years using budget-neutral strategies. On Monday, Begich announced plans to rename the bill the American Reserves Modernization Act, or ARMA.

Witt signaled progress on both administrative and legislative fronts and described a ‘breakthrough' in the work. He told the panel, ‘So in the next few weeks, we'll be making a big announcement,' and added that any administrative action would need to be followed by legislation.

Sponsors of the proposed legislation say a statute would clarify how the government acquires, values, holds and reports on digital assets. Lawmakers and administration officials must still resolve questions about funding mechanisms, custody arrangements, valuation methods and oversight before a statutory program could begin.

The White House did not immediately respond to a request for comment about Witt's previewed announcement.