<div id="readability-page-1"><div>Authored by Micah Zimmerman via BitcoinMagazine.com,The White House is on the verge of a formal announcement on the U.S. Strategic Bitcoin Reserve — and the official leading the charge says the hard part is done.<img width="500" height="282" src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/White-House-Says-Strategic-Bitco.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://files.zhedge.com/cdn-cgi/image/width=1920,quality=75,format=auto/https://assets.zerohedge.com/s3fs-public/inline-images/White-House-Says-Strategic-Bitco.jpg"/>Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets,told an interviewerthis week that the administration has cleared a major legal hurdle in standing up the reserve.“We’ll have an announcement,” Witt said.“I wish I could say more… It’s a breakthrough as far as getting everything in place, legally sound, properly safeguarding the assets.”The signal follows a similar declaration Witt made at the Bitcoin 2026 conference in Las Vegas, where he told the crowd an update was coming within weeks.President Trumpsignedthe executive order establishing the Strategic Bitcoin Reserve on March 6, 2025. Since then, Witt says his deputy Harry John has driven the interagency process: identifying what legal authorities exist, commissioning the necessary legal memos, and building a custody and reporting infrastructure across federal agencies that were designed for gold, not private keys.The reserve holds an estimated 328,372 BTC — roughly 1.6% of total global supply — accumulated through law enforcement seizures, including the Silk Road takedown, the 2022 Bitfinex hack recovery, and years of criminal forfeitures.The executive orderbarsthe Treasury from selling a single coin.<h2>A government bitcoin hack lit a fire for the U.S. government</h2>Witt pointed to a breach at the U.S. Marshals Service as proof that the reserve’s security mandate is urgent. A government contractor named John Daghitaallegedly stolemore than $46 million in cryptocurrency from USMS custody accounts in late 2025, and the FBI arrested him in March 2026. A separate $24 million theft was traced to October 2024.“It’s a case in point for why it was so necessary that the president established the SBR,” Witt said.An executive order dies the moment a new president takes office. That vulnerability is the core argument for two bills now moving through Congress.Rep. Nick Begichrecently rebrandedthe BITCOIN Act as the American Reserves Modernization Act (ARMA), whichwould authorizethe U.S. Treasury to purchase up to 200,000 BTC per year for five years — with holdings locked for a minimum of 20 years.Senator Cynthia Lummis has put Congress on a deadline, pushing for a vote before the summer recess as midterm campaigning begins to consume floor time.If the BITCOIN Act passes, the Treasury’s first open-market Bitcoin purchase is projected for Q4 2026 — making the U.S. the first sovereign nation to actively accumulate Bitcoin as a strategic reserve asset.</div></div>

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The White House is set to announce the U.S. Strategic Bitcoin Reserve, with Patrick Witt stating that major legal hurdles have been cleared. The reserve, established by an executive order in March 2025, holds approximately 328,372 BTC. Recent security breaches highlight the urgency of safeguarding these assets. Two bills in Congress aim to authorize the Treasury to purchase additional Bitcoin, potentially making the U.S. the first nation to accumulate Bitcoin as a strategic reserve asset.

- The White House is preparing to announce the U.S. Strategic Bitcoin Reserve, having cleared significant legal hurdles necessary for its establishment.  
- The reserve, holding approximately 328,372 BTC, was created through an executive order signed by President Trump in March 2025, aiming to safeguard cryptocurrency assets amid security breaches.  
- Proposed legislation could allow the Treasury to purchase up to 200,000 BTC annually, potentially making the U.S. the first country to accumulate Bitcoin as a strategic reserve asset.

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"A Breakthrough": White House Says Strategic Bitcoin Reserve Announcement Is Imminent