Numerous members of Donald Trump’s cabinet are reported to hold substantial Bitcoin investments, with their total assets amounting to millions, as indicated by their financial disclosure statements.
These statements reveal that cabinet members have engaged with Bitcoin through both direct purchases on cryptocurrency exchanges and various investment products such as exchange-traded funds (ETFs).
The involvement of cryptocurrency-friendly individuals in the administration reflects Trump’s ambition to establish the United States as a leader in the digital asset sector.
Throughout his presidency, Trump has initiated several policies, including proposals for a Strategic Bitcoin Reserve, aimed at enhancing America’s presence in this emerging field.
Notable cabinet members and their Bitcoin investments
Kennedy leads with the highest Bitcoin investment among cabinet officials, reporting a Fidelity crypto account valued between $1 million and $5 million.
He has openly expressed his support for Bitcoin, previously asserting that a considerable share of his wealth is invested in this digital asset.
Kennedy has also advocated for the U.S. Treasury to acquire Bitcoin as a protective measure against inflation, suggesting a strategy to accumulate 550 BTC each day until the nation possesses 4 million BTC in reserves.
- Scott Bessent (Treasury Secretary)
Bessent’s financial documentation indicates an investment in BlackRock’s iShares Bitcoin Trust ETF worth between $250,001 and $500,000.
However, as per his ethics agreement, he is required to divest from these assets within 90 days following his confirmation.
In prior comments, Bessent described Bitcoin as a viable investment alternative for younger individuals disillusioned with the conventional financial system.
- Sean Duffy (Transportation Secretary)
Duffy reported various Bitcoin investments, including direct holdings valued between $250,001 and $500,000. He also noted that he has additional Bitcoin stored in a Gemini wallet within the same price bracket.
Furthermore, he possesses a stake in the Fidelity Wise Origin Bitcoin Fund valued between $50,001 and $100,000.
Other cabinet members with limited Bitcoin investments include:
- Russell Vought (Office of Management and Budget Director): Holds Bitcoin in a Coinbase wallet valued between $1,001 and $15,000 and has committed to divesting these assets.
- Tulsi Gabbard (Director of National Intelligence): Owns both a Bitwise Bitcoin ETF Trust investment and direct Bitcoin holdings, each valued between $15,001 and $50,000, and has agreed to sell these assets.
- Pete Hegseth (Defense Secretary): Reported Bitcoin holdings valued from $15,001 to $50,000.
Ethical considerations
The significant Bitcoin holdings of these government officials bring forth ethical concerns, particularly in light of the Trump administration’s pro-cryptocurrency stance.
U.S. Senator Elizabeth Warren recently cautioned that the Trump administration’s actions could disproportionately benefit billionaire investors, insiders, and speculators while disadvantaging middle-class families.
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