Key Points:
- Six out of 22 Trump cabinet members disclosed Bitcoin holdings or indirect investments in cryptocurrency.
- President Trump signed an executive order establishing a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.
- The SEC has reportedly eased its stance on crypto lawsuits since Trump’s election, according to Abra CEO Bill Barhydt.
At a recent White House digital assets summit, President Donald Trump reiterated his commitment to making the U.S. the global leader in Bitcoin and cryptocurrency.
“I promised to make America the Bitcoin superpower of the world and the crypto capital of the planet, and we’re taking historic action to deliver on that promise,” Trump stated.
His administration has taken concrete steps, including signing an executive order to establish a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile. This move aims to address the fragmented approach to crypto regulation and strengthen the government’s position in digital assets.
Bitcoin in the West Wing
A Fortune review of January financial disclosures from Trump’s cabinet members revealed that six out of 22 officials have direct or indirect Bitcoin holdings. These include:
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Robert Kennedy Jr. (Health and Human Services Secretary)
- Holds a Bitcoin Fidelity crypto account valued between $1M and $5M
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Russell Vought (Office of Management and Budget Director)
- Holds Bitcoin in a Coinbase wallet valued between $1,001 and $15,000
- Plans to divest
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Tulsi Gabbard (Director of National Intelligence)
- Holds a Bitwise Bitcoin ETF Trust and Bitcoin, both worth $15,001 to $50,000
- Plans to divest
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Pete Hegseth (Defense Secretary)
- Holds Bitcoin worth $15,001 to $50,000
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Scott Bessent (Treasury Secretary)
- Holds an iShares Bitcoin Trust ETF valued at $250,001 to $500,000
- Plans to divest within 90 days
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Sean Duffy (Transportation Secretary)
- Holds Bitcoin in a Gemini wallet and Fidelity Wise Origin Bitcoin Fund, valued between $50,001 and $500,000
Trump also claimed that the U.S. government is already one of the largest holders of Bitcoin , though exact figures were not disclosed.
Crypto Industry’s Changing Relationship with Washington
The crypto industry has shifted its stance toward the Trump administration, following regulatory challenges under the previous government.
Abra CEO Bill Barhydt spoke at a recent tech summit in California, highlighting the difference between the current and past administrations:
- Under the previous administration, the SEC planned lawsuits against major crypto firms, creating uncertainty.
- The industry responded by financially backing pro-crypto candidates, making it one of the largest donors in Trump’s election campaign.
- The SEC has since eased pressure on crypto firms, and industry leaders now expect regulatory clarity.
“We just want to build our businesses without having to look over our shoulders that some crazy person wants to kill us,” Barhydt said.
Trump’s appointment of venture capitalist David Sacks as AI and Crypto Czar further signals the administration’s commitment to fostering blockchain innovation.
