US Strategic Bitcoin Reserve Gains Bipartisan Backing, Says White House Advisor
US Strategic Bitcoin Reserve Gains Bipartisan Support, Says White House Advisor
Patrick Witt, executive director of the President’s Council of Advisers for Digital Assets, stated there is bipartisan support for legislation to codify the US Strategic Bitcoin Reserve, though it may not pass in the current Congress. Established by executive order in March 2025, the reserve is capitalized with government-held bitcoin and barred from selling BTC. Agencies were required to report their digital assets to Treasury, which delivered a legal and investment evaluation to the White House. However, the exact amount of bitcoin in the reserve remains undisclosed to the public. Witt indicated that while timing is uncertain, there is momentum to advance legislation, potentially in must-pass bills like the NDAA, to solidify the reserve beyond executive action. Bitcoin traded at $69,894 at press time.
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