Hegseth's Bitcoin Holdings Generate $2,702 to $6,000 in Capital Gains

Defense Secretary Pete Hegseth's Bitcoin holdings on Coinbase generated between $2,702 and $6,000 in capital gains in 2025, according to his annual disclosure report certified by the Office of Government Ethics (OGE) on September 18. The report breaks down two separate entries into a single Coinbase wallet, with a stake of $15,001 to $50,000 generating gains of $2,501 to $5,000 and another stake of $1,001 to $15,000 yielding gains of $201 to $1,000.

Together, these two lines put Hegseth's Bitcoin somewhere between about $16,000 and $65,000. The report also details Hegseth's sales of stock in various companies, including Lockheed Martin, Northrop Grumman, Honeywell, KKR, and Blackstone, weeks into his job as Defense Secretary.

The largest individual purchases made by Hegseth were in index funds, with him buying between $100,001 and $250,000 each of SPY and QQQ on February 24. Additionally, the report shows that Hegseth has more than $1 million in one U.S. bank account and two mortgages on his house, each ranging from $1,000,001 to $5,000,000.

It's worth noting that President Trump claimed he made $1.4 billion from digital assets through 2025, according to a report by Cryptopolitan earlier this week. The OGE filings of both Hegseth and Trump have raised questions about the disclosure of their financial activities and potential conflicts of interest.