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Finbold 2025-04-22 10:10:13

Pete Hegseth is down this much on his Bitcoin bet since assuming Defense Sec. role

Pete Hegseth is down this much on his Bitcoin bet since assuming Defense Sec. role

Under fire, U.S. Defense Secretary Pete Hegseth has seen his Bitcoin ( BTC ) investment plunge by over 15% since taking on his government role. At the time of his swearing-in on January 25, 2025, Bitcoin was trading at $104,824. However, the asset has dropped to $88,402 as of press time on April 22, reflecting a 15.6% decline. Bitcoin YTD price chart. Source: Finbold Hegseth’s financial disclosures revealed that he holds between $15,001 and $50,000 in Bitcoin. Pete Hegseth’s financial disclosure excerpt. Source: U.S. government With Bitcoin dropping by 15.6%, assuming a lower-end investment of $15,001, his portfolio is now valued at approximately $12,650, down about $2,350. If he held the maximum investment of $50,000 in the digital currency, his portfolio could be valued at around $42,162, reflecting a loss of approximately $7,837. Hegseth’s Bitcoin support Hegseth, currently under scrutiny for Signal chat leaks and alleged mishandling of classified information, has been a vocal supporter of Bitcoin, citing its ability to cushion investors against inflation and potential government overreach. As a Fox News commentator, he praised the cryptocurrency’s ability to serve as an alternative to traditional banking , aligning himself with conservative players supporting Bitcoin, led by President Donald Trump . Before the financial disclosure, Hegseth noted that he sold some of his Bitcoin holdings in November 2024 when the asset surged to a new record high above $80,000, as investors reacted positively to Trump’s election. At the time, he lauded Trump for making Bitcoin “great again” in anticipation of friendly laws. “Look at Trump, making bitcoin great again. All it took was signaling to that market that they weren’t going to be overregulated. Trump embraced them. “I did sell some pretty high … but I’m holding a bunch as well, so I feel good,” he said. BTC price subdued below $90,000 Over the past three months, the Bitcoin correction has been driven by growing market uncertainty from trade wars. Although Bitcoin and the broader cryptocurrency sector have not experienced massive swings like the stock market, the asset has largely remained stable within the $80,000 to $90,000 range. At the same time, BTC has failed to decisively react to pro-cryptocurrency developments, such as the White House’s inclusion of it in a strategic crypto reserve. Featured image via Shutterstock The post Pete Hegseth is down this much on his Bitcoin bet since assuming Defense Sec. role appeared first on Finbold .

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