The White House is on the verge of announcing the US Strategic Bitcoin Reserve – and the top official in charge of the matter says the challenges have been met.
Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, he told the interviewer this week that the administration has resolved a major legal challenge by standing up for the database.
“We will have an announcement,” Witt said. “I wish I could say more… He’s great at setting everything up, legally sound, protecting the property properly.”
The token follows Witt’s announcement at the Bitcoin 2026 conference in Las Vegas, where he told people that updates are coming in a few weeks.
President Trump he signed the executive order establishing the Strategic Bitcoin Reserve on March 6, 2025. Since then, Witt says that his deputy Harry John has managed the interagency process: identifying the existing legal authorities, sending the appropriate legal memos, and building storage and reporting facilities in all federal agencies that were created for gold, not special keys.
The site has about 328,372 BTC – about 1.6% of the world’s total supply – that has been disrupted by illegal takedowns, including the Silk Road takedown, the 2022 Bitfinex hack recovery, and years of terrorist takeovers.
Executive Order metals Treasury by selling one coin.
The bitcoin government has set fire to the US government
Witt pointed to the U.S. Marshals Service’s crackdown as evidence that security at the detention center is urgent. A government engineer named John Daghita he says he stole it more than $46 million in cryptocurrency from a USMS security account by the end of 2025, and the FBI arrested him in March 2026. A separate theft of $24 million began in October 2024.
“That’s why it was important that the president establish the SBR,” Witt said.
The executive order dies when a new president takes office. That risk is the main point of contention for two bills moving through Congress. Rep. Nick Begich it has been updated recently BITCOIN Act as the American Reserves Modernization Act (ARMA), which would allow The US Treasury will buy up to 200,000 BTC per year for five years – and it will remain closed for at least 20 years. Senator Cynthia Lummis has set a deadline for Congress, forcing a vote before the end of the summer when the midterm campaign will begin to waste time.
If the BITCOIN Act passes, the Treasury’s first open market Bitcoin is expected in Q4 2026 – making the US the first independent country to accumulate Bitcoin as a reserve asset.
