The White House is preparing for a significant announcement regarding the U.S. digital asset strategy.
Patrick Witt, the lead crypto adviser to the White House, recently teased an upcoming breakthrough for President Donald Trump’s plan to establish a strategic Bitcoin (BTC) reserve.
While speaking at the Bitcoin 2026 conference in Las Vegas on Apr. 27, Witt confirmed that his team is actively working on the legal and operational details required to solidify the government’s holdings.
The goal is to protect the digital assets—specifically Bitcoin—currently sitting on the federal balance sheet.
Related: Trump issues bold warning on CLARITY ACT to bankers
From executive action to national law
Last year, President Trump signed an executive order to create the strategic reserve. This stockpile is primarily funded by Bitcoin seized by the government through criminal and civil forfeitures.
However, since executive orders do not have the same long-term permanence as law, federal lawmakers are working to codify the plan through legislation.
A key piece of this effort was recently renamed the American Reserves Modernization Act (ARMA). Originally introduced as the BITCOIN Act by Senator Cynthia Lummis and Representative Nick Begich, the bill proposes a plan for the U.S. to acquire one million Bitcoin over a five-year period using “budget-neutral” strategies.
Witt indicated that the executive branch expects to take a major step forward within the next few weeks, which will eventually be followed by formal legislative action.
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Defending crypto industry from traditional banking
This push for a national Bitcoin reserve comes as the Trump administration takes a firm stance against resistance from traditional financial institutions.
On Apr. 25, Trump hosted an exclusive meeting at Mar-a-Lago for the top holders of the $TRUMP memecoin.
During the event, he issued a direct warning to the banking industry, stating that he would not allow them to hinder the progress of new cryptocurrency regulations.
The president specifically addressed the Digital Asset Market CLARITY Act, a bill that has become a primary focus point for the crypto industry. Some banking groups have lobbied against the legislation, arguing that new rules for stablecoins could threaten traditional bank accounts.
President Trump pushed back against these concerns, vowing to protect the new market rules and reiterating his belief that digital assets have officially “become mainstream.”
