Trump's Cabinet Holds Millions in Bitcoin

Some own it directly, others invest in Bitcoin ETFs. However, some have pledged to divest to avoid conflicts of interest.

According to financial documents released in late 2024 - early 2025, at least 6 of President Donald Trump's 22 cabinet members have crypto-related assets. This figure is worth up to millions of dollars.

Quoted from Fortune, the list of politicians who own Bitcoin includes:

• Robert Kennedy Jr. (Secretary of Health and Human Services): Has a Fidelity crypto account worth $1 million - $5 million.

• Russell Vought (Director of the Office of Management and Budget): Holds $1,001 - $15,000 in Bitcoin in a Coinbase wallet, has pledged to divest.

• Tulsi Gabbard (Director of National Intelligence): Owns $15,001-$50,000 in BTC and Bitwise Bitcoin ETF Trust, pledges to divest.

• Scott Bessent (Secretary of the Treasury): Holds $250,001-$500,000 in iShares Bitcoin Trust ETF and has announced his intention to divest.

• Pete Hegseth (Secretary of Defense): Owns $15,001-$50,000 in Bitcoin.

• Sean Duffy (Secretary of Transportation): Invests $250,001-$500,000 in Bitcoin, holds it in Gemini wallet, and $50,001-$100,000 in Fidelity Wise Origin Bitcoin Fund.

Meanwhile, David Sacks - Crypto & AI Advisor to the White House - announced that he sold all crypto assets (including Bitcoin, Ethereum) before taking office.

As outlined above, several officials have confirmed that they will reduce their Bitcoin holdings to avoid bias and conflicts of interest when making policy.

At the White House Crypto Summit on March 7, Trump once again affirmed that his administration is working to turn the US into the world's crypto hub, breaking the shackles that the SEC has tightened on the sector under Biden.

Since his second election as President, Trump has issued two executive orders related to crypto. The first is directing the establishment of a special cryptocurrency working group, prohibiting federal agencies from developing central bank digital currencies (CBDCs) and setting a framework for expanding USD-pegged stablecoins globally.

The second executive order, signed on March 7, directs the establishment of a Strategic Bitcoin Reserve for the United States, managed by the US Treasury and formed from Bitcoin seized in previous criminal and criminal proceedings. Trump also asked the US Treasury and Commerce Departments to come up with plans to buy more Bitcoin, but not using the budget from American taxpayers.

Bitcoin has decreased by 2% in the past 24 hours and is trading around $81,852. Compared to last week, the price of BTC has decreased by 6%, under the pressure of the tariff war and the risk of a US economic recession.