On March 9, Patrick Witt, executive director of the President’s Council of Advisers for Digital Assets, delivered insights at the Economic Club of New York, emphasizing that there is a noticeable trend of bipartisan support for legislation aimed at formalizing the US Strategic Bitcoin Reserve. He acknowledged that while progress might extend beyond the current Congress, the momentum is building.
The Strategic Bitcoin Reserve was established by an executive order signed by President Donald Trump on March 6, 2025. This directive tasked the Treasury with creating an office to manage the reserve, utilizing bitcoin that the government had already seized. Additionally, the order stipulated that BTC in the reserve should remain untouched and outlined strategies for the Treasury and Commerce to acquire more bitcoin without creating additional financial burdens for taxpayers.
Growing Consensus on the U.S. Bitcoin Reserve
Accompanying this executive order were specific timelines. Government agencies were given a span of 30 days, concluding on April 5, 2025, to determine their ability to transfer BTC into the reserve and to report on the digital assets they held. The Treasury was then allotted 60 days, until May 5, 2025, to present a comprehensive legal and investment analysis regarding the establishment and management of the reserve, including the potential necessity for more legislation.
The most significant public update occurred on July 30, 2025, when the President’s Working Group on Digital Asset Markets highlighted that the Treasury’s recommendations had reached the White House under Section 3(e) of the order. They confirmed ongoing efforts to operationalize the reserve. Up until January 20, 2026, the initiative was still portrayed by the White House as a settled policy.
However, a critical aspect remains unaddressed: the reporting generated by the established deadlines was internal, lacking a public disclosure of the reserve’s actual BTC holdings. Although agencies were required to detail their bitcoin assets, and the Treasury reported back to the White House, the administration has yet to reveal the specific quantities held in the Strategic Bitcoin Reserve. This obscurity leaves a significant question unanswered: while the reserve is acknowledged as a policy, its precise size is still ambiguous.
The current situation is quite clear, albeit not completely transparent. The reserve is acknowledged as an executive branch strategy, although the initial deadlines have lapsed. The Treasury has provided formal feedback, yet a comprehensive legislative framework still seems necessary if the administration intends to solidify the reserve beyond mere executive action.
Witt’s statements are particularly significant, as they highlight the potential next phase in this initiative. He remarked, “There is also a growing movement to advance legislation for codifying the strategic Bitcoin reserve.” He expressed optimism that, regardless of whether these discussions move forward in the current Congress, there is notable bipartisan support to pursue these legislative efforts. He indicated that these bills could be primed for consideration in the future, possibly even included in a larger legislative package.
Currently, Bitcoin’s trading price stands at $69,894, reflecting ongoing interest and activity in the digital currency market.
