Gate News message, April 27 — Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, previewed a “big announcement” coming in the next few weeks regarding President Trump’s strategic bitcoin reserve while speaking on a panel Monday at the Bitcoin 2026 conference in Las Vegas.
Trump signed an executive order last year to establish the strategic bitcoin reserve, primarily funded through bitcoin seized by the government through criminal or civil forfeitures. However, executive orders lack the permanence of legislation, prompting lawmakers to work on codifying the initiative into law. Senators Cynthia Lummis (R-Wyo.) and Rep. Nick Begich (R-Alaska) have been advancing the “American Reserves Modernization Act” (ARMA), which aims to acquire 1 million bitcoin over five years using “budget-neutral strategies.”
“In the next few weeks, we’ll be making a big announcement,” Witt said, adding that the White House expects to “take a big step forward from the executive branch side.” He emphasized that the team has been working to determine the legal frameworks and mechanisms necessary to solidify and protect the government’s digital assets, particularly bitcoin.
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