At the Bitcoin 2026 conference held at The Venetian Resort in Las Vegas, Patrick Witt, executive director of the President's Council of Advisors on Digital Assets, told attendees that the White House will make a "major announcement" regarding the US Bitcoin Strategic Reserve in the coming weeks. The news sent ripples through the crypto market, with Bitcoin holding above $79,000.
Key Takeaways
- White House advisor Patrick Witt stated that a "major announcement" about the US Bitcoin Strategic Reserve will be released within weeks, covering its operational and legal framework.
- Witt confirmed that the executive branch can take a "big step forward" without waiting for Congress, though legislation is ultimately needed to make the reserve policy permanent.
- Witt also noted that once crypto market structure legislation is enacted, the industry will "take off like a rocket."
No New Purchases Yet
Speaking on a panel at The Venetian Resort, Witt said that since President Trump signed the executive order establishing the Strategic Bitcoin Reserve, the administration has spent months working on the legal interpretations needed to protect Bitcoin on the government's balance sheet. That work is now nearing completion.
Witt emphasized: "In the next few weeks, we will make a major announcement." He added that the administration believes it can make a "big step forward from the executive side" without waiting for Congressional action. However, official legislation remains necessary to cement the policy permanently and shield it from reversal by future administrations.
Currently, the Strategic Bitcoin Reserve, created by executive order, holds only confiscated Bitcoin rather than newly acquired assets. Witt's comments suggest the upcoming announcement will focus on clarifying the reserve's operational structure and legal framework — a system that could eventually support active accumulation if Congress passes enabling legislation. The key question for the market is whether the announcement will include specific plans to increase the reserve through open-market purchases.
A Defining Moment for Industry Regulation
Witt's announcement is the latest in a series of high-profile policy signals emanating from Bitcoin 2026. On the first day, SEC Chairman Paul Atkins told the audience that a new era had officially begun at the agency, clearly signaling the administration's regulatory reset. Macro analyst Arthur Hayes separately published a forecast predicting Bitcoin would reach $125,000 by year-end, citing military spending and liquidity injections as the core drivers of his bullish thesis.
The combination of policy clarity, executive action, and institutional price targets makes Bitcoin 2026 one of the most significant industry events of the year. Bitcoin's recent rally above $79,000 could accelerate further once the Strategic Bitcoin Reserve announcement is made.