Defense Secretary Pete Hegseths 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.
Two Coinbase entries put the stake at $16,000 to $65,000
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.
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Together, the two lines put Hegseths 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 OGEs own sign-off.
Lockheed, Northrop, and Honeywell stakes were sold weeks into the job
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.
Trumps own OGE filings in May showed repeated purchases of Coinbase and Strategy shares, Cryptopolitan reported.