Speaking at the Economic Club of New York on March 9, Patrick Witt, executive director of the President’s Council of Advisors on Digital Assets, said there is “some bipartisan support” for legislation to consolidate the US Strategic Bitcoin Reserve, even if the timing may extend beyond the current Congress.
President Donald Trump signed an executive order creating the Strategic Bitcoin Reserve on March 6, 2025. The order directed the Treasury Department to set up an office to manage the reserve, monetize the lost bitcoin already held by the government, and store BTC in a safe haven for sale. It also authorized the Treasury and Commerce to develop “budget neutral” strategies for acquiring more bitcoin without imposing increased costs on taxpayers.
Bipartisan Support Builds US Bitcoin Reserve
This order comes with deadlines. The agencies had 30 days, until April 5, 2025, to review whether they can transfer government-owned BTC to the reserve and provide a full accounting of the digital assets in them. The Treasury Department then had 60 days, until May 5, 2025, to deliver a legal and investment review of how the reserve should be established and managed, including whether additional legislation would be required.
The most important official update came on July 30, 2025, when the President’s Task Force on Digital Asset Markets said that the Treasury Department had already submitted its considerations to the White House under Section 3(e) of the order and would continue to coordinate “appropriate next steps” to implement the provision. The White House was still publicly defining the reserve as policy as recently as January 20, 2026.
One important caveat remains: those deadlines generated internal reporting, not public accounting of the repository. In other words, the agencies were required to report their holdings, and the Treasury Department was required to report to the White House, but the administration has yet to publicly disclose how many BTC are actually in the Strategic Bitcoin Reserve. For the community, that leaves an important piece of the story unresolved: the reservation exists on paper and as an administrative policy, but its confirmed size is still unknown.
That leaves the current situation pretty clear, even if it doesn’t fully reflect it. This reserve exists as a policy of the executive branch. Order deadlines have long passed. The Ministry of Finance officially reported. But a full legal framework still appears to be the next step if management wants the reserve to be closed without administrative action alone.
Witt’s remarks are noteworthy because they point directly to that next stage. “There is also pressure to push forward some regulations to cover Bitcoin reserve strategies,” he said. “Whether or not we are able to reach those in this Congress, there is bipartisan support for those. So, in the next Congress, many of those bills can be pre-marked and then taken up in the future or voted on individually in that or possibly pass like the NDAA for example.”
At press time, Bitcoin traded at $69,894.
The featured image was created with DALL.E, a chart from TradingView.com
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