Key Takeaways
- Six members of Trump’s cabinet reported significant Bitcoin holdings in their financial disclosures.
- Trump aims to position the US as a leading power in the cryptocurrency market.
Six members of President Donald Trump’s cabinet disclosed Bitcoin holdings worth millions of dollars in their January financial disclosures, as the administration pushes to make the US a crypto leader, according to a new report from Fortune.
Health and Human Services Secretary Robert Kennedy Jr. reported the largest holding, with a Bitcoin Fidelity crypto account valued between $1 million and $5 million.
Treasury Secretary Scott Bessent disclosed holdings in BlackRock’s iShares Bitcoin Trust ETF worth $250,001 to $500,000, though his ethics agreement requires divestment within 90 days of confirmation.
Transportation Secretary Sean Duffy reported multiple Bitcoin investments totaling between $550,003 and $1.1 million across different vehicles.
Director of National Intelligence Tulsi Gabbard and Defense Secretary Pete Hegseth each disclosed Bitcoin holdings worth $15,001 to $50,000. Office of Management and Budget Director Russell Vought reported Bitcoin in a Coinbase wallet valued at $1,001 to $15,000.
Earlier this month, David Sacks, Trump’s AI and crypto czar, confirmed that he had sold all his crypto holdings including Bitcoin, Ether, and Solana before his tenure under the Trump administration began.
Sacks’ advisory role allows him to provide direct policy recommendations to the president on artificial intelligence and crypto but does not grant him authority over government agencies or include him in the Cabinet.
Trump’s pro-crypto agenda
The financial disclosures come as Trump doubles down on his pledge to make the U.S. a Bitcoin superpower. At a recent White House digital assets summit, the president vowed to take “historic action” to cement America’s dominance in the crypto industry.
To support this initiative, Trump issued an executive order establishing a Strategic Bitcoin Reserve and US Digital Asset Stockpile, aiming to streamline the government’s handling of crypto assets.
On the regulatory front, the SEC has eased its stance on crypto enforcement, a stark departure from previous administrations who cracked down on crypto.