U.S. Defense Secretary Pete Hegseth Discloses Bitcoin Holdings in Coinbase Wallet

U.S. Defense Secretary Pete Hegseth’s latest annual financial disclosure, covering 2025, lists Bitcoin held in a single Coinbase wallet under two separate entries. The filing, released by the Office of Government Ethics, reports the combined value of the holdings between roughly $16,000 and $65,000.

Details of the Bitcoin Entries

Both entries appear under “other assets and income” and are classified as capital gains. One entry is valued between $15,001 and $50,000, and the other between $1,001 and $15,000. The disclosure format uses value ranges rather than exact amounts, so the total falls within the $16,000‑$65,000 bracket.

Transaction Activity

The transaction section of the filing, which records purchases and sales above $1,000, shows no Bitcoin trades for the reporting period. This indicates that Hegseth neither bought nor sold Bitcoin above the reporting threshold during 2025.

Broader Financial Picture

In addition to the Bitcoin holdings, the disclosure lists more than $3.1 million in cash, retirement accounts, and other assets. Hegseth and his wife hold five retirement accounts invested in index and Avantis funds, and three U.S. bank cash accounts, one of which exceeds $1 million.

Other Notable Transactions

During 2025, Hegseth sold holdings in several defense contractors—including Lockheed Martin, Northrop Grumman, and Honeywell—as well as private‑equity firms KKR and Blackstone. Later in the year, he sold a broader portfolio of technology and financial stocks such as Apple, Alphabet, Amazon, Microsoft, Oracle, and Visa, and purchased index funds.

Liabilities

The filing also lists two mortgages on his personal residence, each in the $1,000,001‑$5,000,000 range, with an interest rate of 8.5%.

Certification Timeline

Hegseth signed the report in May. An agency ethics official certified it in August, and the Office of Government Ethics issued final certification on September 18.