White House Signals Bitcoin Reserve Update with Possible Announcement Soon

The White House has refocused attention on its proposed United States strategic Bitcoin reserve, with officials hinting at a 'big announcement' within weeks.

Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, made the remarks as lawmakers reviewed crypto market legislation and traders debated whether Bitcoin needs a fresh catalyst to move back above $100,000.

The reserve plan would change how the government handles selected seized Bitcoin, allowing some holdings to remain under a managed long-term structure. Under the new framework, federal authorities would no longer sell seized assets through auctions.

Lawmakers are also working on legislation that could give the reserve a stronger legal base. The proposal began as the BITCOIN Act and has also been discussed under the American Reserves Modernization Act name.