After the Trump administration signed an executive order in March 2025 to initiate a strategic Bitcoin reserve, the core obstacle has always been how to solidify the executive order into law to avoid policy reversals after a change in government. Digital asset advisor Patrick Witt recently announced a "major announcement," indicating that legal barriers have been cleared and the legislative process has entered its final stage.

This is not only a key step for policy continuity but also points to a deeper financial architecture intention. In Witt's speech, the most intriguing statement is "Banks might actually need this legislation more than the crypto industry." This suggests that the goal of the reserve plan is not merely to legitimize crypto assets but to build a new financial system architecture based on Bitcoin reserves as the underlying asset, with its primary service targets possibly being traditional financial institutions, providing them with a new kind of balance sheet tool.
On May 20, Patrick Witt, Trump's digital asset advisor, stated on the podcast "The Wolf Of All Streets" that "The Trump administration has cleared major legal hurdles, and the Bitcoin strategic reserve announcement is expected to be made in the coming weeks."
Witt said, "We have everything in place, legally secured, and these assets (Bitcoin) are properly protected. If there is a change in government, how reversible is the executive order? Very easy to reverse. The U.S. government believes it should become part of the financial architecture, backed by the most powerful institutions. We now have a real opportunity to lead. Many people will say that banks might actually need this legislation more than the crypto industry. This will be the new architecture of the future financial system. If we don't set the rules, we can only follow someone else's rulebook." $ETH
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