President Donald Trump signed an executive order in March 2025 establishing the Strategic Bitcoin Reserve (SBR) and a separate US Digital Asset Stockpile. The SBR will be capitalized by bitcoin forfeited to the Treasury through criminal or civil proceedings, while the stockpile covers other seized digital assets. Witt’s upcoming announcement will detail the progress made and the path forward, particularly after a recent security incident involving an exploit of US Marshals Service-held crypto wallets.
That exploit, allegedly linked to John Daghita (known online as “John” or “Lick”), involved the theft of over $46 million in seized crypto assets. Witt cited the incident as validation for the administration’s proactive approach, emphasizing the unique custody challenges of digital assets. “Custody is unique for digital assets. So we've made a tremendous amount of progress that's kind of happened in the background,” he said, promising that the announcement will outline exactly the progress made.
Industry observers view the SBR as a potential game-changer. By formally holding Bitcoin as a long-term national asset, the US could set a precedent for other sovereign entities, further legitimizing Bitcoin as a store of value. While the exact size and composition of the reserve remain undisclosed, Witt stressed that the executive branch is moving ahead even before Congress enacts permanent legislation. At the time of the announcement, Bitcoin was trading around $81,530.
