The White House is expected to make an announcement soon concerning the U. S. Strategic Bitcoin Reserve (SBR), according to Patrick Witt, Executive Director of the President's Council of Advisors for Digital Assets. Speaking at Consensus Miami 2026 on May 7, Witt indicated his team had achieved a "breakthrough" regarding the legal framework underpinning the reserve. The White House intends to act from the executive branch side within weeks.
President Trump signed an executive order in March 2025 establishing the SBR. The order halted the liquidation of seized crypto, directed agencies to audit their digital asset holdings, and authorized the Treasury and Commerce Departments to explore strategies for acquiring additional bitcoin. As of May 2026, the federal government holds an estimated 328,372 BTC, worth approximately $25 billion at current prices, primarily from criminal and civil forfeitures. This makes the U. S. the largest known sovereign bitcoin holder, representing approximately 1.56% of bitcoin's circulating supply.
Witt tied the coming announcement to a recent security incident involving the U. S. Marshals Service, where a $46 million theft from crypto wallets occurred. He emphasized the unique custody challenges of digital assets, stating that the administration has made significant progress in the background to properly safeguard these assets.
The key question for the market is whether the announcement will include plans for open market purchases or focus on custody and accounting. While legislation is needed to make the reserve permanent, the executive branch framework can immediately shape custody and management. Senator Cynthia Lummis's BITCOIN Act envisions the Treasury managing the reserve. The progress on the SBR comes as the Senate Banking Committee advanced the CLARITY Act to the full Senate floor. The CLARITY Act is intended to resolve jurisdictional conflicts between regulatory authorities and establish clear rules for crypto assets.
