Patrick Witt, who served as executive director of the White House Crypto Council, emphasized that the United States government would require explicit authorization from Congress to legally purchase Bitcoin. Witt made this statement during an interview with What Bitcoin Did on November 10, 2026, noting that President Donald Trump is interested in expanding government holdings of the digital asset.
Congressional authority and strategic reserve plans
Witt explained that the administration is seeking to formalize the creation of a Strategic Bitcoin Reserve (SBR) but needs clear approval from Congress, as only Congress has the authority to allocate government funds. Any attempt to purchase Bitcoin must demonstrate that such action aligns with the original intent of appropriated funds.
He revealed that several methods for accumulating Bitcoin are being considered, but cautioned that acting too quickly risks provoking a congressional response. Witt warned that Congress could react by including a restrictive provision in the National Defense Authorization Act, thereby banning federal Bitcoin purchases and undermining efforts to secure legal permission.
Witt cautioned that a premature government move to acquire Bitcoin could lead Congress to pass an explicit ban, closing the door on future acquisitions and complicating efforts to legitimize government holdings.
During his time at the White House, Witt contributed to advancing crypto legislation and highlighted the administration’s efforts to lift what officials described as “Operation Choke Point 2.0.” The team’s initial priorities also included establishing a framework for the Strategic Bitcoin Reserve and improving the custody of digital assets managed by federal agencies.
Witt also referenced the recently passed GENIUS stablecoin law, describing it as a step toward reducing regulatory uncertainty for cryptocurrencies in general, although he noted that the measure was not specifically tailored to Bitcoin.
Security gaps and asset acquisition options
Addressing government-held Bitcoin, Witt disclosed that official holdings have not undergone comprehensive, high-quality audits. Agency responses have so far been fragmented, and significant work remains to achieve effective tracking and transparency. Legal ambiguity, resource constraints, and the scope of relevant audits continue to hamper these efforts.
He identified major deficiencies in previous custody arrangements, citing examples such as cold wallets left unsecured and mentioning a reported theft involving assets held by the US Marshals Service.
Witt argued that implementing robust and secure custody systems for digital assets is essential before considering any new acquisitions or conversions into Bitcoin. He expects the US Treasury’s efforts to improve custody protocols to serve as a foundation for any future actions.
According to Witt, any responsible approach to government Bitcoin purchases must begin with establishing airtight custody and tracking systems, avoiding the errors of past asset management practices.
Possible strategies for increasing government Bitcoin exposure include repricing gold reserves, utilizing the Exchange Stabilization Fund, converting other government assets, or even accepting certain payments directly in Bitcoin. However, Witt acknowledged that direct market purchases still face unresolved legal questions and would likely attract close scrutiny from lawmakers.
He also pointed out that Bitcoin, in his view, offers strategic utility beyond its value as an investment. Potential uses include cross-border peer-to-peer transfers, a hedge against currency debasement, and applications in national security.
Witt noted that while executive actions could accelerate adoption, such measures might be reversed by future administrations, emphasizing the need for bipartisan clarity. He recommended transparent communication regarding quantum computing and cybersecurity risks in digital asset management.
Mini dictionary: White House Crypto Council — An advisory group coordinated within the US government to provide guidance and shape digital asset policy at the executive branch level. The council’s role includes advising on strategies for government crypto holdings, regulations, and interagency cooperation.
