White House Digital Asset Advisor: Bitcoin Reserve Announcement Within Weeks

Patrick Witt, Secretary General of the White House Digital Asset Advisory Committee, stated on June 6 at Consensus 2026 in Miami that an announcement regarding the U.S. government's Strategic Bitcoin Reserve is expected within weeks, according to CoinDesk. The statement follows President Donald Trump's signing of an executive order establishing the Strategic Bitcoin Reserve, after which the government has been reviewing its digital asset holdings and improving custody management systems.

Government Digital Asset Review and Custody Improvements

Witt explained that the government has been conducting a comprehensive review of digital asset holdings across federal agencies and consolidating custody systems. This effort includes aggregating, consolidating, and securing digital assets held by various government institutions.

Custody System Issues Identified

Witt highlighted significant deficiencies in how some government agencies were storing digital assets. "We confirmed that in some agencies, cold wallets were being stored in desk drawers," he stated, emphasizing the necessity of establishing proper digital asset custody systems across the government.

Current Bitcoin Holdings and Disclosure

Witt did not disclose the current size of Bitcoin holdings maintained by the U.S. government.

Seized Assets and Reserve Integration

Witt clarified that digital assets seized through criminal investigations or legal proceedings are not automatically incorporated into the Strategic Bitcoin Reserve. According to his statement, "Digital assets seized through legal proceedings remain in a held status until forfeiture is completed. Assets may be returned to victims through restitution and subsequently transferred to a separately established reserve facility."