The White House has signaled a major step forward in turning the U.S. strategic Bitcoin reserve from a policy concept into an operational system. Patrick Witt, a White House adviser, told the Bitcoin 2026 conference in Las Vegas that a “big announcement” detailing the next phase is expected within weeks, following internal work to finalize the legal and operational structure.
Adviser: Legal Framework Nears Completion
Witt said officials have been working through the legal interpretations needed to secure and manage Bitcoin already held by the government. “We���re close to finalizing key interpretations to solidify that and protect the digital assets, specifically bitcoin that we have on the government balance sheet,” he stated. The executive order signed last year is being translated into a functioning framework, with further executive action anticipated. However, Witt stressed that legislative backing remains necessary to give the reserve long-term stability.
Legislators Rename and Revise Reserve Bill
Parallel to executive efforts, lawmakers are advancing legislation. Rep. Nick Begich said the original BITCOIN Act has been renamed the American Reserves Modernization Act (ARMA). This bill builds on Trump’s executive order, which created a strategic Bitcoin reserve primarily funded by seized assets and a separate digital asset stockpile. Codifying the reserve into law, lawmakers argue, would prevent policy reversals by future administrations.
Earlier drafts led by Sen. Cynthia Lummis proposed acquiring up to 1 million Bitcoin over five years using budget-neutral methods. Lummis wrote in October 2025 that funding could begin “anytime,” even amid congressional debate. Alternative funding sources have been floated, including using unrealized gains from U.S. gold reserves — estimated at roughly $1 trillion by ProCap BTC CIO Jeff Park — as a long-term allocation pool.
Acquisition Details Still Vague as Timeline Tightens
So far, government-held Bitcoin comes solely from forfeitures. Policymakers are exploring ways to expand holdings without taxpayer money, but no public plan has been disclosed. Witt described the upcoming announcement as a “breakthrough” in moving the reserve from concept to an operational system, but repeated that follow-up legislation is essential for permanence.
The White House has not released further details on the announcement or its scope.