Defense Secretary Hegseth Holds Bitcoin in Coinbase Wallet
In brief
- Hegseth holds Bitcoin valued $16,000–$65,000 in Coinbase wallet per 2025 disclosure
- Total assets exceed $3.1 million including cash and retirement accounts
- Defense contractor stock sales completed in February 2025 after taking office
- Two mortgages on personal residence each valued $1–$5 million
Cryptocurrency Holdings and Asset Breakdown
Hegseth's Bitcoin holding appears under "other assets and income" as two separate entries inside a single Coinbase wallet, one valued at between $15,001 and $50,000 and the other at between $1,001 and $15,000. Neither entry appears in the report's transactions section, indicating no purchases or sales above $1,000 during the reporting period.
The filing lists at least $3.1 million in total assets spread across cash, retirement investments, and Bitcoin. Three U.S. bank cash accounts are listed, one of them worth more than $1 million. Five retirement accounts hold additional value, and the filing lists two mortgages on a personal residence, each in the $1,000,001 to $5,000,000 range.
Defense Contractor Divestitures
Hegseth sold holdings in Lockheed Martin, Northrop Grumman and Honeywell, all defense contractors, on February 7, 2025, after taking office. His ethics agreement did not specifically require him to sell them. Six weeks later he sold a broader list including Apple, Alphabet, Amazon, Microsoft, Oracle and Visa.
The timing of these divestitures reflects standard conflict-of-interest management for cabinet officials, though the voluntary nature of the defense contractor sales suggests Hegseth took a more expansive approach to avoiding potential conflicts than his ethics rules mandated.
Filing Timeline and Context
Hegseth signed the report in May, and the Office of Government Ethics certified it on September 18. For comparison, President Donald Trump's own disclosure in June reported more than $50 million in Bitcoin and over $1.2 billion in earnings from crypto ventures, underscoring the wide variance in cryptocurrency exposure among senior government officials.
Frequently asked questions
How much Bitcoin does Defense Secretary Hegseth own?
Hegseth's Bitcoin holding is valued between approximately $16,000 and $65,000 according to his 2025 financial disclosure. The Bitcoin appears as two separate entries in a single Coinbase wallet under "other assets and income."
Why did Hegseth sell his defense contractor stocks?
Hegseth sold holdings in Lockheed Martin, Northrop Grumman, and Honeywell in February 2025 to avoid conflicts of interest after taking office as Defense Secretary. His ethics agreement did not specifically require these sales, suggesting he chose a voluntary approach to conflict management.
What is Hegseth's total net worth according to the filing?
The filing shows at least $3.1 million in total assets, including cash, retirement investments, and Bitcoin. One bank account alone holds more than $1 million, and two mortgages on his personal residence are each valued between $1 million and $5 million.
