Patrick Witt, executive director of the White House President's Council of Advisors for Digital Assets, says a formal update on the U.S. Strategic Bitcoin Reserve is close to release. Witt cited a "breakthrough" on three fronts: the legal basis for the reserve, custody arrangements for forfeited BTC, and an interagency reporting framework.
The reserve itself was established by President Trump's March 6, 2025 executive order, which directs the Treasury to hold forfeited Bitcoin in custody and explicitly prohibits any sale of those holdings. The imminent update suggests the operational scaffolding — who holds the keys, under what legal authority, and how agencies report to one another — is now settled.
For markets, the significance is structural: a fully operationalized U.S. government Bitcoin reserve with a locked no-sell mandate removes a persistent overhang about potential government…
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