Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, previewed a “big announcement” on Trump’s strategic bitcoin reserve coming in the next few weeks during a Monday panel at the Bitcoin 2026 conference in Las Vegas. According to Witt, the White House and lawmakers have been working to finalize the implementation details and legal framework for the reserve.
Executive Order and Implementation
President Trump signed an executive order last year to establish a strategic bitcoin reserve, primarily funded through bitcoin already held by the government from criminal or civil forfeitures, along with a separate digital asset stockpile. Witt explained the administration’s work on the initiative: “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.”
Legislative Efforts to Codify Reserve
Because executive orders lack the permanence of legislation, lawmakers have been working to pass a bill codifying Trump’s actions. Sen. Cynthia Lummis (R-Wyo.) and Rep. Nick Begich (R-Alaska) reintroduced legislation originally called the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide Act,” or BITCOIN Act. The bill has been renamed the American Reserves Modernization Act (ARMA), according to Begich’s announcement on Monday.
The legislation builds on the executive order and includes language for acquiring 1 million bitcoin over five years using “budget-neutral strategies.”
Upcoming Announcement Timeline
Witt signaled imminent progress on the initiative: “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.” He added that “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.”
The White House did not immediately respond to a request for comment regarding the announcement.
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