White House Adviser Teases U.S. Bitcoin Reserve Update

The U.S. government's Strategic Bitcoin Reserve (SBR) is set to receive an update in the coming weeks, a White House adviser revealed at the Consensus Miami conference. Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, stated that the announcement would provide insight into the reserve's size and structure.

The SBR was established by President Donald Trump's executive order, which aimed to centralize and secure U.S.-held bitcoin and other digital assets. The initiative has been in the works for months, with Witt citing a recent exploit involving the U.S. Marshals Service as a motivating factor for centralization.

The reserve will not automatically absorb all newly seized assets, according to Witt. Instead, crypto seized in active legal proceedings will remain in pending status until forfeiture is finalized, and may be returned to victims through restitution before being moved to the bitcoin reserve or another stockpile.