Trump's Treasury Secretary nominee is selling all of his assets, including Bitcoin.

Donald Trump's Treasury Secretary nominee Scott Bessent is undertaking a significant asset liquidation to prevent conflicts of interest before taking office. Bessent announced that he will divest his assets worth $700 million, including Bitcoin ETFs. This radical decision demonstrates Bessent's commitment to his new role and transparency.

Bessent Will Liquidate His Bitcoin and All Other Investments

Scott Bessent, who has been nominated by elected U.S. President Donald Trump for the Treasury Department, announced that he will divest all his assets to avoid potential conflicts of interest during his tenure.

According to sources familiar with the matter, billionaire Bessent, a former hedge fund manager, disclosed over $700 million in assets to the public before the Senate confirmation process. Notably, Bessent's portfolio includes Bitcoin ETF investments ranging from $250,000 to $500,000.

Bessent, a former colleague of businessman George Soros, has assets that include a margin loan exceeding $50 million from Goldman Sachs, transactions based on the Chinese currency, and shares in the conservative media outlet All Seasons. In a letter sent to the Treasury Department, Bessent stated, "If I am appointed as Treasury Secretary, I will avoid all potential conflicts of interest."

Known for his support of cryptocurrency markets, Bessent is expected to manage challenging economic decisions, such as maintaining the Trump administration's tax cut policy and eliminating social security taxes. Bessent also supports tax reform and the reduction of regulations to promote increased bank lending and energy production.

Speaking last October, Bessent emphasized that the new administration would adopt a strong dollar policy in line with Washington's policies.