White House Crypto Advisor Hints ‘Big Announcement’ On Trump’s $25B Bitcoin Reserve Amid ARMA Act Push

• Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, said officials have been working to resolve legal and operational questions tied to managing these holdings.
• His comments come after Representative Nick Begich announced plans to reintroduce legislation under the ARMA Act to formalize Bitcoin as a reserve asset at the conference.
• On the CLARITY Act, Witt said that the cryptocurrency industry will “take off like a rocket ship” after the market structure bill passes.

Patrick Witt, Executive Director of the President’s Council of Advisors for Digital Assets, said at Bitcoin Conference 2026 that a “big announcement” around President Donald Trump’s Bitcoin (BTC) strategic reserve is expected in the coming weeks. 

Witt said the administration has been working since last year’s executive order to address the legal and operational details needed to formalize and safeguard the government’s Bitcoin holdings. The government currently has an estimated 328,000 BTC in its coffers. At Bitcoin’s current price, that amounts to around $25.1 billion. 

BTC’s price fell 1.7% in the last 24 hours to around $76,500. Retail sentiment on Stocktwits around the apex cryptocurrency trended in ‘bullish’ territory, accompanied by ‘normal’ levels of chatter. 

“So in the next few weeks we'll be making a big announcement,” Witt said on stage alongside Senator Cynthia Lummis (R-WYO) and Senator Bernie Moreno (R-OH). “I think we have a bit of a breakthrough there and obviously that needs to be followed up with legislation.”

On the CLARITY Act, he added that the the U.S. need to operate in a “Goldilocks zone” of of regulation for the industry so that it can flourish. “We're going to see this industry take off like a rocket ship if we can get it done,” Witt said.

Congress Moves To Codify Bitcoin Reserve Strategy

Witt’s comments come after Representative Nick Begich said earlier at the Bitcoin Conference 2026 that the legislation to establish a Bitcoin strategic reserve is slated to to be reintroduced as the American Reserve Modernization Action (ARMA) Act from its previous iteration as the Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act .

“Representative Begich has talked about the ARMA Act that he has put together, so we need to codify it,” Witt said. “But in the meantime we do believe we're going to be able to take a big step forward from the executive branch side in the next few weeks.”

Last year, Begich reintroduced the BITCOIN Act with Senator Lummis. The proposal outlines plans to establish Bitcoin as a strategic reserve asset, similar in concept to U.S. gold reserves. The earlier version of the bill also included provisions to acquire up to one million Bitcoin over five years using “budget-neutral strategies.”

While details of the updated legislation remain limited, Begich said the revised bill would emphasize long-term holding of Bitcoin. He did not specify what changes have been made to the proposal.

Read also: CLARITY Act Markup Set For May, Says Senator Cynthia Lummis Eyeing ‘Finish Line’ After 3-Month Delay

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