As the U.S. Congress pushes forward legislation to codify President Trump's "Bitcoin Strategic Reserve" executive order, the White House's chief crypto advisor Patrick Witt dropped a teaser at the 2026 Bitcoin Conference in Las Vegas: a "major announcement" on the reserve's next steps is expected within weeks.
Executive Order First, Legislation Next
Witt said the White House team and relevant agencies have been working intensively on the strategic Bitcoin reserve plan. He cited the executive order signed by Trump last year: "Since then, we have been clarifying the necessary operational mechanisms and legal interpretations to ensure this framework is rock-solid, protecting digital assets — especially the Bitcoin on the government's balance sheet."
An executive order's legal force and durability fall short of statutory law, leaving it vulnerable to reversal after a change of administration. To address this, Republican Senator Cynthia Lummis and Representative Nick Begich reintroduced the high-profile BITCOIN Act last year, which not only strengthens the executive order but also includes a provision to purchase 1 million Bitcoin over five years "without increasing the federal deficit."
Bill Renamed and Buying Plan
Rep. Nick Begich confirmed on Monday that the bill has been renamed the American Reserves Modernization Act (ARMA). On the bill's progress and the strategic reserve plan, Witt added: "We will be making a major announcement in the coming weeks. I think we've had some breakthroughs there; of course, we still need congressional legislation to get it done. At the same time, we believe the executive branch will take a big step forward in the coming weeks."
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