The U.S. government’s push to make Bitcoin an official reserve asset is moving forward, but slowly. Two developments this week show where things stand.
JUST IN: U.S. CONGRESSMAN BEGICH JUST ANNOUNCED HE WILL INTRODUCE A NEW A STRATEGIC #BITCOIN RESERVE BILL
BTC IS THE NEW WORLD RESERVE ASSET
AMERICA WILL LEAD ON BTC.
pic.twitter.com/TTNzfnnK62
— The Bitcoin Historian (@pete_rizzo_) April 27, 2026
White House crypto advisor Patrick Witt spoke at the Bitcoin 2026 conference in Las Vegas on Monday. He said a “big announcement” on the Strategic Bitcoin Reserve is coming within the next few weeks. He also said the executive branch expects to take a “big step forward” on its own, separate from any legislation.
Witt serves as executive director of the President’s Council of Advisors for Digital Assets. He said his team has been focused on figuring out the legal steps needed to protect the Bitcoin already held by the government.
“We’ve gone to work in figuring out exactly the machinations necessary and legal interpretations that we need to get that right and solidify that and protect the digital assets, specifically bitcoin that we have on the government balance sheet,” Witt said.
President Trump signed an executive order last year to create a Strategic Bitcoin Reserve. That reserve is funded mainly by Bitcoin the government already holds from criminal and civil forfeitures. A separate digital asset stockpile was also created.
Executive orders can be reversed by future presidents. That’s why lawmakers are working to pass legislation that would make the reserve permanent.
At the same conference, Rep. Nick Begich announced he is reintroducing his Strategic Bitcoin Reserve bill. It will now be called the American Reserves Modernization Act, or ARMA.
Begich originally introduced the BITCOIN Act as a companion to Senator Cynthia Lummis’ Senate bill. The legislation calls for the U.S. Treasury to acquire up to 1 million Bitcoin over five years using budget-neutral strategies.
The bill has been revised after consultations with the House Financial Services Committee and other key committees. Those committees gave feedback on what changes were needed for them to support the bill.
Begich said the name change is meant to help the public and members of Congress better understand the goal. He wants Bitcoin to be treated as a reserve asset for long-term storage, not something that can be sold off or changed with shifting political winds.
Senators Lummis and Bill Cassidy have also introduced the Mined in America Act. That bill is focused on codifying Trump’s executive order while also supporting the domestic Bitcoin mining industry.
Begich said he could not give a timeline for when ARMA might pass a vote.
With the CLARITY Act currently taking priority in Congress, crypto traders are not optimistic about a near-term outcome. Prediction markets currently put just a 22% chance on a national Bitcoin reserve being in place before 2027.
The post The White House Says a Bitcoin Reserve Announcement Is Coming — What Do We Know? appeared first on CoinCentral.
