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 major development on Trump’s strategic bitcoin reserve is imminent.
What Witt said
Speaking on a panel Monday, Witt described the work his team has been doing since Trump signed the original executive order:
“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.”
He then signaled that something concrete is coming soon:
“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:
“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.
The legislative push
Executive orders lack the permanence of legislation, and lawmakers have been working to codify Trump’s actions into law.
Sen. Cynthia Lummis and Rep. Nick Begich previously reintroduced the BITCOIN Act, which builds on the executive order and includes language for acquiring 1 million bitcoin over five years using budget-neutral strategies.
On Monday, Begich announced the bill was being renamed the American Reserves Modernization Act, or ARMA.
Background on the reserve
Trump’s original executive order established the strategic bitcoin reserve using bitcoin already held by the U.S. government through criminal and civil forfeitures, alongside a separate digital asset stockpile.
The reserve has drawn significant attention as one of the most consequential bitcoin policy moves by any government, with multiple countries now watching how the U.S. approaches sovereign bitcoin holdings.
