Six members of former President Donald Trump’s cabinet have disclosed that they own Bitcoin, with their combined holdings worth millions of dollars. This revelation comes as the cryptocurrency continues to gain mainstream acceptance and adoption among high-profile individuals and institutions.
Among the cabinet members who have invested in Bitcoin is Robert F. Kennedy Jr., the Health and Human Services Secretary, who reportedly holds between $1 million and $5 million in a Fidelity Bitcoin account. Another official, Russell Vought, the Office of Management and Budget Director, owns Bitcoin in his Coinbase wallet, with holdings ranging from $1,001 to $15,000. Vought has indicated his intention to sell his Bitcoin holdings.
Treasury Secretary Scott Bessent has invested in the iShares Bitcoin Trust ETF, with his stake valued between $250,001 and $500,000. As per his ethics agreement, Bessent has committed to selling his Bitcoin holdings within 90 days of taking office. Tulsi Gabbard, the Director of National Intelligence, has reported investments in the Bitwise Bitcoin ETF Trust and direct ownership of Bitcoin, with both investments valued between $15,001 and $50,000. Gabbard also plans to sell her Bitcoin holdings.
Transportation Secretary Sean Duffy has disclosed Bitcoin assets between $250,001 and $500,000, along with holdings in a Gemini wallet and the Fidelity Wise Origin Bitcoin Fund. Defense Secretary Pete Hegseth holds Bitcoin valued between $15,001 and $50,000.
Former President Trump has previously claimed that government officials are among the largest holders of Bitcoin and has expressed his desire to make the United States a leader in the cryptocurrency space. Meanwhile, David Sacks, the government’s AI and crypto czar, recently revealed that he sold all of his cryptocurrency holdings, including Bitcoin, Ethereum, and Solana, before taking office.
The disclosure of Bitcoin holdings by members of Trump’s cabinet underscores the growing interest in and adoption of cryptocurrencies among high-ranking government officials. As the cryptocurrency market continues to evolve and mature, it will be interesting to see how these individuals navigate their investments and the regulatory landscape surrounding digital assets.