New Defense Secretary Pete Hegseth brings cryptocurrency holdings to the Pentagon's top post, with financial disclosures showing he owns between $5,000 and $15,000 in Bitcoin.
New Defense Secretary Pete Hegseth is entering the Pentagon’s top post with cryptocurrency holdings, as financial disclosures show he owns $5,000 to $15,000 in Bitcoin.
The Senate confirmed Hegseth as defense secretary Friday in a 50-50 vote, with Vice President JD Vance breaking the tie. The narrow victory came despite concerns about his qualifications and personal conduct.
Financial records released Jan. 13 show Hegseth earned over $5 million in the past two years, mostly from his Fox News hosting role and speaking engagements. The documents reveal he collected $4.6 million from Fox News and up to $1 million from a Baltimore rental property.
The Army veteran and former Fox & Friends Weekend host has openly backed cryptocurrency, praising its independence from government control.
During Coinbase Global's (COIN) COIN 2021 IPO, he called it the “tip of the iceberg” for digital currency adoption.
“Crypto has arrived. Bitcoin is not a person, it’s not a company, it’s not a place. It’s tougher to stop than you would think,” Hegseth said at the time, according to cryptocurrency publication The Block.
Hegseth takes control of the Pentagon as Bitcoin trades around $100,000, potentially reacting to shifting political winds. His dual role as both a Bitcoin investor and America’s new defense chief arrives as digital assets face less scrutiny from the federal government.
The position puts him among the highest-ranking U.S. officials to publicly hold cryptocurrency, though his Bitcoin stake represents a small portion of his multimillion-dollar portfolio.
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