US Bitcoin Reserve Update Expected โNext Few Weeksโ ๐ฐ๐ช
White House digital-assets adviser Patrick Witt says announcement on Strategic Bitcoin Reserve coming soon, citing security gaps in current federal crypto custody.
Current Status
โก๏ธ Inventory Underway: White House auditing crypto held across agencies after Trump EO halted โfire saleโ liquidations
โก๏ธ Security Issues: Witt: โcold wallets stored in drawers of desks.โ US Marshals exploit in late 2025 lost $60M+, including seizure wallets
โก๏ธ Size Unknown: Witt declined to disclose holdings. Priority: โget our own house in orderโ + proper custody first
How It Works
โก๏ธ Not Automatic: Seized crypto stays pending until forfeiture finalized. May go to victim restitution before SBR or separate crypto stockpile
โก๏ธ Legal Review: Agencies examining authority to hold assets, duration, congressional clawback risk. โThis really hadn't been explored until the president signed the executive orderโ
Needs Legislation
โก๏ธ Bills: Sen. Lummisโs BITCOIN Act + Rep. Begichโs American Reserves Modernization Act in House
โก๏ธ Witt: โIt always needs to be followed up with proper legislation.โ Timing unclear as Congress bandwidth limited
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