White House Adviser Says Bitcoin Reserve Update Expected in Next Few Weeks

White House adviser Patrick Witt said an update on the Strategic Bitcoin Reserve is coming in the next few weeks. Witt made the remarks on stage at Consensus Miami 2026.

Witt cited past practices at agencies including the U.S. Marshals Service as an example of why federal crypto holdings require improved safeguarding. He referred to stories, some confirmed, of cold wallets stored in desk drawers at various agencies.

Following an executive order signed by President Donald Trump, the White House halted fire-sale liquidations that had been conducted under the previous administration and began auditing crypto assets held by each agency. Witt said much of the staff work has focused on general-counsel-level questions about which authorities permit agencies to hold the assets, for how long, and whether they are subject to congressional clawback.

"This really hadn't been explored until the president signed the executive order," Witt said. He added that the work on inventory and custody improvements "has been running in the background for months."

Witt declined to disclose the size of federal crypto holdings. "Number one is we want to get our own house in order. We want to properly safeguard, custody these assets before we discuss any details around it," he said.

The Strategic Bitcoin Reserve still needs to be codified through legislation. Witt clarified that the reserve will not absorb every newly seized asset automatically. Crypto seized in active legal proceedings remains in pending status until forfeiture is finalized.

Assets may be returned to victims through restitution before any transfer to the bitcoin reserve or the separate stockpile for other crypto assets.