Defense Secretary Pete Hegseth’s Bitcoin on Coinbase generated between $2,702 and $6,000 in capital gains in 2025, his annual disclosure shows. The report was certified Sept. 18 by the Office
Defense Secretary Pete Hegseth’s Bitcoin on Coinbase generated between $2,702 and $6,000 in capital gains in 2025, his annual disclosure shows.
The report was certified Sept. 18 by the Office of Government Ethics.
The form divides the coin into two lines in a single Coinbase wallet. A stake of $15,001 to $50,000 generated gains of $2,501 to $5,000, while a stake of $1,001 to $15,000 yielded gains of $201 to $1,000.
Together, the two lines put Hegseth’s Bitcoin somewhere between about $16,000 and $65,000.
Part 7 breaks down each trade over $1,000. There is no Bitcoin trade in there. Sales of $1,000 or less do not require itemization.
Hegseth signed the report on May 14. An ethics official at the Defense Department cleared it in August, before OGE’s own sign-off.
Part 7 is mostly stock selling. Weeks into the job, Hegseth sold shares in Lockheed Martin, Northrop Grumman and Honeywell, each valued between $1,001 and $15,000, as well as holdings in KKR and Blackstone valued between $15,001 and $50,000, on Feb. 7, 2025.
He sold shares of Apple, Alphabet, Amazon, Microsoft, and Oracle on March 24. His largest individual purchases were in index funds, buying between $100,001 and $250,000 each of SPY and QQQ on Feb. 24.
The form has more than $1 million in one U.S. bank account.
He has two mortgages on his house, each ranging from $1,000,001 to $5,000,000. The one taken out in 2025 carries an 8.5% rate.
President Trump said he made $1.4 billion from digital assets through 2025, Cryptopolitan reported this week.
Trump’s own OGE filings in May showed repeated purchases of Coinbase and Strategy shares, Cryptopolitan reported.
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