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The White House has refocused attention on a proposed United States strategic Bitcoin reserve after Patrick Witt, executive director of the President’s Council of Advisors for Digital Assets, said a “big announcement” could come within weeks.
His remarks came as lawmakers reviewed crypto market legislation and traders debated whether Bitcoin needs a fresh catalyst to move back above $100,000.
Officials have not released a final policy document, launch date, custody model, or agency roadmap. The current work centers on legal and operational structures for Bitcoin already held by the federal government through criminal and civil forfeiture cases.
President Donald Trump signed an executive order in March 2025 that created the Strategic Bitcoin Reserve and a wider digital asset stockpile. The order directed federal agencies to identify digital assets under government control and review how those assets should be managed.
The reserve plan would change how the government handles selected seized Bitcoin. In past years, federal authorities often sold seized holdings through auctions. Under the new framework, some Bitcoin would remain under a managed long-term structure.
Witt’s phrase, “big announcement,” did not confirm implementation. Key questions remain around accounting, audits, security standards, and agency oversight.
Lawmakers have worked 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.
The bill outlines a plan to acquire up to one million Bitcoin over several years using budget-neutral methods. Supporters say the structure would avoid direct new federal spending, although the final acquisition process has not been finalized.
A statute would give the reserve more durability than an executive order. Future administrations can revise executive policy, while changing a law would require congressional action. The bill still faces questions over custody, timing, reporting, and risk controls.
The reserve debate is unfolding while the Senate reviews the Digital Asset Market Clarity Act. Coinbase said negotiators reached a deal on a key provision that had slowed the bill’s progress.
The dispute focused on stablecoin rewards. Banks opposed rewards that looked like interest on deposits, while crypto firms said usage-based incentives help users take part in digital asset networks.
New language would restrict yield paid only for holding payment stablecoins. It would also block rewards that are similar to interest on bank deposits. The text would still allow incentives tied to real platform activity or network use.
Coinbase Chief Policy Officer Faryar Shirzad said, ‘We protected what matters,’ while noting that banks secured more limits on rewards. Coinbase Chief Legal Officer Paul Grewal said the language preserves activity-based rewards linked to real participation. The text still needed review before a full Senate vote.
The policy signals arrived as traders debated Bitcoin’s path back above $100,000. MN Capital founder Michael van de Poppe said, ‘There doesn’t need to be a narrative that pushes the price upwards.’
He added, ‘Price moves upwards, and the narrative will create itself.’ His comments came as traders watched Federal Reserve policy, spot Bitcoin ETF flows, crypto legislation, and government reserve plans.
Bitcoin last traded at $100,000 on Nov. 13, about one month after the Oct. 10 crypto market liquidation event that erased roughly $19 billion. It later fell to a yearly low of $60,000 in February before recovering to about $78,250.
Bitcoin gained 14.49% over the past 30 days, while it remained down around 10% since Jan. 1. Nvidia shares were up 5.08% over the same period, as market attention also moved toward artificial intelligence stocks.
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