Under fire, US Secretary of Defense Pete Hegses has seen his Bitcoin (BTC) investment slump more than 15% since taking on the role of his government.
As of the oath on January 25th, 2025, Bitcoin was trading at $104,824. However, as of April 22nd's reporting time, assets had dropped to $88,402, reflecting a 15.6% decline.
Hegseth's financial disclosures revealed he holds between $15,001 and $50,000 in Bitcoin.
Assuming a 15.6% decline in Bitcoin and a low-end investment of $15,001, his portfolio is currently down around $12,650, down around $2,350.
If he invests up to $50,000 in digital currency, his portfolio could be valued at around $42,162, reflecting a loss of about $7,837.
Hegseth's Bitcoin Support
Hegseth is currently undergoing scrutiny of signal chat leaks and allegedly mistreated the classified information, but was a voice supporter of Bitcoin, citing his ability to mitigate investors against inflation and potential government overreach.
As Fox News Commentator, he praised the ability of cryptocurrency to serve as an alternative to traditional banks, in line with the conservative players who support Bitcoin led by President Donald Trump.
Before the financial disclosure, Hegses noted that investors responded positively to Trump's election and sold a portion of Bitcoin Holdings in November 2024 when assets surged to a new record above $80,000. At the time, he praised Trump for “again” Bitcoin in anticipation of friendly laws.
“Look at Trump and make Bitcoin great again. It was just to signal that market that they wouldn't be over-adjusted. Trump accepted them.
BTC price fell below $90,000
Over the past three months, Bitcoin revisions have been driven by increasing market uncertainty due to the trade war.
Bitcoin and the wider cryptocurrency sector have not experienced a massive swing like the stock market, but assets are largely stable within the $80,000-$90,000 range.
At the same time, BTC failed to respond decisively to professional development of cryptocurrency, including the White House's inclusion in strategic cryptocurrency sanctuaries.
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