Hegseth discloses more cash than bitcoin in new report

Peter Hegseth, the U.S. Defense Secretary, has a larger cash position than his bitcoin holdings.

His 2025 annual financial disclosure, released recently, reveals holdings of $16,000 to $65,000 in bitcoin and $1 million in a bank account.

Appointed in January 2025, Hegseth serves in what is considered the most pro-crypto U.S. administration to date.

President Trump, supported by major figures in digital assets, recently advocated for the passage of the Clarity Act, a key piece of crypto legislation.

The Office of Government Ethics filing additionally shows Hegseth and his spouse hold retirement accounts valued between $2.05 million and $4.35 million.

Those accounts include ETFs such as the Invesco QQQ Trust, which is tech-heavy, and the Apollo Diversified Real Estate Fund, a closed-end fund.

Hegseth's transactions involved selling shares of Amazon, Microsoft, and Apple.

The bitcoin is stored in a Coinbase wallet, according to the filing.

Compared to the Trump family's crypto ventures, which have generated billions since the president took office, Hegseth's holdings are small.

Trump himself disclosed income of over $1.4 billion from these ventures, making crypto his top income source, well ahead of real estate and legal settlements.

A Reuters investigation this year reported that Trump's family, including sons Eric and Donald Jr., earned $2.3 billion from four crypto ventures by April 2026.

Critics such as Democrats allege Trump is benefiting from crypto while influencing its regulation. The White House denies conflicts of interest, and Trump has cited congressional stock trading—notably by Nancy Pelosi—as reason to ban the practice.