Defense Secretary Pete Hegseth Discloses Bitcoin Holdings in Coinbase Wallet

Bitcoin Holdings Disclosed

In a recent financial disclosure, U.S. Secretary of Defense Pete Hegseth has revealed that he holds Bitcoin in a Coinbase wallet. The Office of Government Ethics released this information as part of his annual financial report for 2025.

Estimated Value of Holdings

The Bitcoin assets are categorized as "other assets and income" and are recorded in two entries. The first entry is valued between $15,001 and $50,000, while the second ranges from $1,001 to $15,000, leading to an estimated total holding value between $16,000 and $65,000. Importantly, the disclosure does not reflect any transactions involving Bitcoin purchases or sales over $1,000 during the reporting period.

Overall Financial Picture

Hegseth's Bitcoin holdings form a small part of a broader financial portfolio, which includes at least $3.1 million across cash, retirement accounts, and Bitcoin. He and his wife, Jennifer, have five retirement accounts and three cash accounts at U.S. banks, with one account exceeding $1 million. This account shows a significant increase from previous disclosures.

Stock Divestments

Following his appointment in January 2025, Hegseth divested from several individual stocks, including Lockheed Martin and Northrop Grumman, selling shares valued between $1,001 and $15,000. He later sold shares in major companies like Apple and Amazon, shifting his focus towards index funds throughout the year.

Liabilities

The disclosure also lists two mortgages on his personal residence, each valued between $1,000,001 and $5,000,000, with an interest rate of 8.5%. Hegseth completed this report in May, which was certified by an ethics official in August and finalized by the Office of Government Ethics on September 18.

Comparison with Other Officials

In comparison, former President Donald Trump's financial disclosure indicated significantly larger crypto investments, with over $50 million in Bitcoin and $1.2 billion from various crypto ventures, including earnings from a meme coin.