White House Adviser Witt Signals Strategic Bitcoin Reserve Update After Legal and Custody Breakthrough
White House adviser Patrick Witt said an announcement on the U.S. Strategic Bitcoin Reserve is coming soon after what he described as a breakthrough in the legal and custody framework needed to safeguard the assets. He said the administration had made progress getting the reserve in place in a legally sound manner.
A March 6, 2025 White House fact sheet said the reserve would be capitalized with bitcoin already held by Treasury through criminal or civil forfeiture proceedings. A White House executive order the same day directed Treasury to evaluate the legal, investment, and custodial-account structure for managing the reserve within 60 days.
From the sources (3 posts)
@bitcoinmagazineJUST IN: 🇺🇸 White House Executive Director says there is an announcement coming soon regarding a Strategic Bitcoin Reserve: "We'll have an announcement...It's a breakthrough as far as getting everything in place, legally sound, properly sa
@tftc21White House adviser Patrick Witt claims major progress on the U.S. Strategic Bitcoin Reserve (SBR): "We'll have an announcement... It's a breakthrough as far as getting everything in place, legally sound, properly safeguarding the assets."
@ecomintnews🚨 Major Development: White House Executive Director Patrick Witt confirms a significant announcement on the U.S. Strategic Bitcoin Reserve is coming soon. The administration has achieved a key breakthrough in legal and custody frameworks fo