Overview
- Patrick Witt, who spoke Monday, said the White House now has a legally compliant custody setup for seized Bitcoin and that an announcement is coming soon.
- The reserve traces back to a March 2025 executive order that told agencies to pool forfeited Bitcoin into one account and stopped Treasury sales of those assets.
- Witt urged Congress to lock the policy into law because executive orders can be undone by a future administration.
- Lawmakers are preparing bills to do that, with Sen. Cynthia Lummis backing the BITCOIN Act, Rep. Tom Emmer planning ARMA, and Witt saying the CLARITY Act is about 90% complete with a July–August target.
- A recent U.S. Marshals Service wallet loss highlighted weak safeguards, a pressing risk given government holdings estimated at about 328,372 BTC worth roughly $25 billion.