White House crypto advisor hints at imminent update on Strategic Bitcoin Reserve

US President Donald Trump signed an executive order shortly after taking office directing the establishment of a National Strategic Bitcoin Reserve by March 2025. No formal moves toward a strategic Bitcoin (BTC) reserve have been announced since, though the administration now appears poised to provide an update. Patrick Witt, Executive Director of the White House Digital Assets Advisory Council, said at the "Bitcoin 2026" conference in Las Vegas that work is underway to implement and reinforce Trump's Strategic Bitcoin Reserve initiative. Speaking at the event, Witt said a major announcement is expected in the coming weeks, adding that the team is defining the mechanisms needed to safeguard digital assets such as Bitcoin carried on the state balance sheet. Witt also indicated that progress on the initiative could be followed by legal and regulatory steps, and said the administration expects to take a significant executive action in the near term. The executive order envisions a reserve backed by Bitcoin and other digital assets seized by the government through criminal or civil proceedings. The plan targets roughly 200,000 BTC obtained via enforcement actions for use as a national reserve asset. This is not investment advice.