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The White House is preparing a major announcement related to the US Strategic Bitcoin Reserve, according to crypto advisor Patrick Witt, who said the administration has made a “breakthrough” on the executive-branch side of the policy.
Speaking Monday at the Bitcoin 2026 conference in Las Vegas, Witt said the government has been working through legal and operational details needed to formalize how federally held Bitcoin should be protected and treated on the balance sheet. He suggested the announcement could come in the next few weeks, while lawmakers continue working on legislation to codify the reserve in statute.
Witt said the President signed the Strategic Bitcoin Reserve Executive Order last year and that the administration has been determining the “machinations” and legal interpretations required to solidify the framework and protect the digital assets—specifically Bitcoin—on the government’s balance sheet. He added that the executive branch is expected to take a “big step forward” before Congress acts.
The executive order, signed on March 6, 2025, established the Strategic BTC Reserve and a separate US Digital Asset Stockpile. It directed that forfeited government Bitcoin placed into the reserve “shall not be sold,” and it called for Treasury and Commerce to develop budget-neutral strategies for acquiring additional Bitcoin without imposing incremental taxpayer costs.
Separately, Rep. Nick Begich said legislation to establish a US strategic Bitcoin reserve is set to be reintroduced in the next few weeks under a new name: the American Reserves Modernization Act (ARMA).
Begich said the proposal builds on the Bitcoin Act originally introduced by Sen. Cynthia Lummis in the 118th Congress and reintroduced in the Senate in the current 119th Congress. He said his office has been working with Lummis’ team and the House Financial Services Committee on revisions intended to improve the bill’s prospects in Congress.
Begich previously and jointly introduced the BITCOIN Act of 2025 in March 2025, describing it as legislation to establish a Strategic BTC Reserve in law. He said the renaming is intended to clarify the objective: ensuring Bitcoin is treated as a reserve asset, held for a long period, and prevented from being “attached” in the way he described.
Begich said the goal is to prevent the reserve from becoming a short-term political instrument. In his description, ARMA would identify where BTC is held across government agencies, place it into responsible custody, and restrict the ability to lend against it or subject it to shifting reserves policy.
At press time, BTC traded at $76,941.
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