Trump's pro-crypto stance: Cabinet and core members were once Bitcoin holders

These are members of the Trump cabinet and inner circle who support cryptocurrencies and have previously held cryptocurrency shares. The new government of President-elect Donald Trump includes Republican politicians, lawyers, and business leaders. While many of his choices still need Senate approval, some stand out for their common connections: they either directly or indirectly hold cryptocurrencies or are bullish on the asset class. According to public disclosures and records reviewed by Decrypt, several members of Trump's proposed cabinet and inner circle, from the nominee for National Security Advisor to the pick for Director of National Intelligence, are or have been cryptocurrency holders. Here are the key figures in the Trump administration who support cryptocurrencies and have been involved with them to some degree. Vice President-Elect J.D. Vance According to a federal disclosure form filed last August, U.S. Vice President-elect J.D. Vance holds between $250,000 and $500,000 worth of Bitcoin. In the Senate, Vance has actively supported crypto-friendly legislation. He introduced a bill aimed at protecting crypto companies from being cut off by traditional banks, and criticized the regulatory approaches of agencies like the SEC. In June 2024, he released a legislative draft proposing to establish a more industry-friendly digital asset regulatory framework, seeking to reform the SEC and CFTC's oversight of the crypto market. Robert F. Kennedy Jr., Secretary of Health and Human Services Since Robert F. Kennedy Jr. (RFK Jr.) is not a current U.S. Congressman, he is not required to publicly disclose his digital asset holdings. However, the prominent Bitcoin supporter and former presidential candidate has recently made several comments about his holdings of the world's oldest cryptocurrency. "I'm a big believer in Bitcoin. When I get home, I put most of my wealth into Bitcoin, so I'm all in on it," RFK Jr. said during a public event in November, according to a video posted on X. This incoming Trump cabinet member also praised Bitcoin as a tool to hedge against inflation in another article this month. "Bitcoin is the free money, the middle-class American's hedge against inflation, the remedy for the dollar's demotion from the world's reserve currency, and the exit from crippling national debt," RFK Jr. wrote in the post. Kennedy also criticized the current regulatory measures, particularly those of the Biden administration, as being too restrictive on cryptocurrencies. "I will end Biden's war on Bitcoin," he stated at a Bitcoin conference in Nashville in July. He advocates for establishing a more open regulatory environment to foster innovation and maintain America's competitive edge in the global financial landscape. National Security Advisor Michael Waltz Republican U.S. Congressman Michael Waltz from Florida's 6th Congressional District has demonstrated support for Bitcoin and the broader crypto industry through personal investments and legislative actions. According to financial disclosures Waltz made to Congress last year, he held between $50,001 and $100,000 worth of Bitcoin in 2023. He has also recently voted in favor of crypto-friendly bills like FIT21 and moved to repeal the SEC's SAB 121 rule, in addition to co-sponsoring a bill to prohibit the use of central bank digital currencies (CBDCs) for monetary policy and other purposes in the U.S., according to the digital asset advocacy group Stand with Crypto. Director of National Intelligence Tulsi Gabbard Former Democratic U.S. Congresswoman from Hawaii Tulsi Gabbard invested in at least two cryptocurrencies. A public disclosure shows that in late 2017, she purchased between $1,000 and $15,000 worth of Litecoin and Ethereum tokens. While Gabbard no longer holds any cryptocurrencies, according to her last disclosure in 2019, she has been critical of government initiatives that she believes infringe on financial privacy and autonomy. She sees the push for CBDCs as part of a broader government effort to control the populace, undermining the decentralized nature of cryptocurrencies like Bitcoin. Elon Musk, Co-Leader of D.O.G.E. Although not a member of the Trump cabinet, Musk is undoubtedly closely aligned with the Trump camp, at least publicly, as a supporter of cryptocurrencies. He is the co-lead of the newly formed Government Efficiency Department, the acronym of which matches the name of Dogecoin (DOGE). Musk has frequently expressed his support for Dogecoin, calling it the "people's cryptocurrency," and has influenced its market value. "I still have a lot of Doge, and SpaceX has a lot of Bitcoin," Musk said in an X Spaces talk earlier this year. Meanwhile, according to data from Arkham Intelligence, as of the time of writing, Musk's Tesla holds 11,509 Bitcoin, worth over $1 billion. D.O.G.E. Co-Leader Vivek Ramaswamy As a private citizen, Ramaswamy is not required to publicly disclose his cryptocurrency holdings. However, the billionaire businessman has long been a supporter of cryptocurrencies and is believed to hold digital assets. For example, the former Republican presidential candidate announced two years ago at the Bitcoin 2023 conference in Miami that he would accept cryptocurrency donations for his campaign. Ramaswamy has also emphasized the need for clear regulation in the cryptocurrency space. He has criticized the current regulatory approach of agencies like the SEC as "enforcement-centric," advocating for a framework that fosters innovation while ensuring consumer protection. Additionally, Ramaswamy's Strive Asset Management, which manages $17 billion in assets, announced in early November that it would be adding Bitcoin to its clients' investment portfolios.