- A crypto CEO cheered the Trump administration because he believes it will embrace decentralization—and because cabinet members hold Bitcoin directly or indirectly. “We just want to build our businesses without having to look over our shoulders that some crazy person wants to kill us,” said Abra CEO Bill Barhydt at a technology summit in California this week.
At a recent, first-of-its-kind White House digital assets summit, President Trump pledged, “I promised to make America the Bitcoin superpower of the world and the crypto capital of the planet, and we’re taking historic action to deliver on that promise.”
If he makes good on his vow, it will likely be helped along by the crypto enthusiasts in the West Wing. Fortune reviewed January financial disclosures from each of President Donald Trump’s cabinet members and found six of 22 listed Bitcoin wallets or indirect holdings through another financial vehicle invested in the cryptocurrency.
Trump claimed the federal government was already among the largest holders of Bitcoin, too. He signed an executive order creating a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile the day before the summit. The purpose, the order reads, is to fix the “disjointed handling of cryptocurrencies” because no clear policy exists for managing them.
Cryptocurrencies jumped on the news that inflation cooled in February, but the crypto market was tumbling earlier over tariffs, trade uncertainty and recession chatter.
Health and Human Services secretary Robert Kennedy Jr. disclosed a Bitcoin Fidelity crypto account worth $1,000,001 to $5,000,000. And, Office of Management and Budget Director Russell Vought disclosed Bitcoin in a Coinbase wallet valued at $1,001 to $15,000; he said he’d divest.
Director of National Intelligence Tulsi Gabbard reported having a Bitwise Bitcoin ETF Trust worth $15,001 to $50,000, and $15,001 to $50,000 Bitcoin; she said she’d divest. Defense Secretary Pete Hegseth disclosed $15,001 to $50,000 in Bitcoin.
According to his financial disclosure, Treasury Secretary Scott Bessent listed an iShares Bitcoin Trust ETF worth $250,001 to $500,000; but his ethics agreement said he would divest no later than 90 days after his confirmation. Transportation Secretary Sean Duffy disclosed Bitcoin worth $250,001 to $500,000, Bitcoin held in a Gemini wallet worth $250,001 to $500,000, and Fidelity Wise Origin Bitcoin Fund between $50,001 to $100,000.
Digital asset platform Abra chief executive Bill Barhydt, at a technology summit in California on Tuesday, discussed the difference between the prior and current administration when it comes to cryptocurrency, even shouting out cabinet members for their Bitcoin holdings. He claimed under the prior administration, the Securities and Exchange Commission intended to sue a number of players in the digital asset space for regulatory violations.
That “pushed a lot of apolitical people into the arms of this administration, and unbeknownst to the public, I believe we were the single largest donor to basically get them elected in order to deal with this problem,” Barhydt said. His industry has spent millions to reelect Trump and elect pro-crypto lawmakers, and once the president was elected, crypto firms donated more cash for his inauguration. Trump appointed venture capitalist and former Paypal executive David Sacks as his “AI and Crypto Czar.”
The SEC is no longer on their back, Barhydt noted, referring to the entire digital asset world. “Headwinds have turned into tailwinds,” he said. “We believe this is the future… We just want to build our businesses without having to look over our shoulders that some crazy person wants to kill us.”
The SEC has dropped crypto lawsuits since Trump’s victory, and Barhydt believes regulatory clarity is coming because the current administration embraces decentralization.
Departments and representatives for cabinet members, the White House, and Abra did not immediately respond to Fortune’s request for comment.
