White House teases major update on strategic Bitcoin reserve

The White House has signaled that a new step toward operationalizing the U.S. strategic Bitcoin reserve has been prepared, with an announcement expected within weeks.

Speaking at the Bitcoin 2026 conference in Las Vegas, Patrick Witt said officials have been working through the legal structure needed to secure and manage Bitcoin already held by the government. 

He said the administration is close to finalizing key interpretations required to “solidify that and protect the digital assets, specifically bitcoin that we have on the government balance sheet.”

During the panel, Witt confirmed that internal work has focused on translating last year’s executive order into a functioning framework, with further action from the executive branch expected shortly. 

He said a “big announcement” would outline the next phase, while adding that legislative backing would still be required to give the reserve long-term footing.

Lawmakers move to anchor reserve into statute

Alongside executive action, lawmakers have continued efforts to formalize the reserve through legislation. Nick Begich said the bill previously introduced as the BITCOIN Act is being renamed the American Reserves Modernization Act, or ARMA, as part of that process.

The proposal builds on the executive order signed by Donald Trump, which created a strategic Bitcoin reserve primarily funded through assets seized in criminal and civil cases, along with a separate digital asset stockpile. Lawmakers have argued that codifying the reserve into law would prevent policy reversals that could occur under future administrations.

Earlier legislative drafts led by Cynthia Lummis outlined plans to acquire up to 1 million Bitcoin over five years using budget-neutral methods.

 According to Lummis, writing in October 2025, the government could begin funding the reserve “anytime,” even as Congress continues to debate the bill’s passage.

Her comments followed discussions around alternative funding strategies, including proposals highlighted by ProCap BTC chief investment officer Jeff Park, who pointed to roughly $1 trillion in unrealized gains from U.S. gold reserves as a potential source for long-term Bitcoin allocation.

Structure still taking shape as timeline tightens

While the executive order has already established the reserve framework, details on how additional Bitcoin would be acquired have not been publicly disclosed. Government-held Bitcoin currently comes from forfeitures, with policymakers weighing options to expand holdings without drawing on taxpayer funds.

Witt said the upcoming announcement would represent a “breakthrough” in advancing the reserve from a policy concept to an operational system, though he noted that follow-up legislation remains necessary to secure its permanence.

The White House has not issued further details on the planned announcement or its scope.