U.S. Nears Completion of Strategic Bitcoin Reserve Framework
The White House may issue a formal update on the U.S. Strategic Bitcoin Reserve within weeks after officials completed key legal and custody arrangements for Bitcoin seized by the federal government.
Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, shared the timeline at Consensus 2026 while describing implementation of President Donald Trump's March 6, 2025 executive order establishing the reserve.
Witt said the administration has finalized a legal and operational framework intended to keep government-held Bitcoin secure and compliant, addressing earlier frictions around standards and custody for forfeited assets. In an interview with Scott Melker, he said the work was focused on keeping the reserve "legally sound" while safeguarding the holdings. Witt added that Deputy Harry John helped coordinate interagency efforts alongside Stephen Miller's policy team.
The March 2025 executive order directed the Treasury Department to retain forfeited Bitcoin and barred federal agencies from selling Bitcoin held in reserve accounts. Witt said the administration views legislation as necessary to make the structure durable, and continues backing congressional efforts linked to the BITCOIN Act and the American Reserve Modernization Action Act.
At Consensus 2026, figures discussed indicated the U.S. government held about 328,372 BTC as of February 2026. With Bitcoin trading near $77,277 on May 18, 2026, the stash was valued at roughly $25.4 billion, placing the U.S. among the largest publicly known sovereign Bitcoin holders. The framework is designed to treat Bitcoin similarly to other strategic stockpiles such as gold and petroleum.
Witt also pointed to prior custody issues involving the U.S. Marshals Service, saying earlier losses highlighted weaknesses in federal digital-asset storage and reinforced the case for tighter safeguards.
In Washington, attention has recently shifted to the CLARITY Act, which Witt described as drawing focus away from the reserve. He called the Strategic Bitcoin Reserve "the forgotten stepchild" in the broader crypto policy debate, even as work continued behind the scenes. Witt warned that future administrations could unwind executive actions without congressional protection, and argued the U.S. needs clear domestic digital-asset rules before overseas regulators set global standards.
