Trump’s Treasury Nominee Scott Besent Reveals Up to $500,000 in Bitcoin Stocks, $521 Million in Assets – iShares Bitcoin Trust (NASDAQ:IBIT)

Scott Besantpresident-elect Donald TrumpThe Treasury Department nominee revealed that he owns between $250,001 and $500,000 in… iShares Bitcoin Trust ETF Ebitaccording to financial documents released Saturday by the US Office of Government Ethics.

What happened: The revelation comes as Bitcoin Bitcoin/US Dollar It is trading near $94,227, after pulling back from its December high of $108,135. Bitcoin has attracted increasing attention amid expectations of cryptocurrency-friendly policies under the incoming Trump administration.

Besant, founder Key Square Capital Managementreported total assets worth at least $521 million, although the actual value may be much higher due to wide reporting ranges. His largest holdings include positions exceeding $50 million each in major ETFs such as SPDR S&P 500 ETF spy and Invesco QQQ Trust, Series 1 QQQ.

This veteran hedge fund investor holds large currency positions, trading more than $50 million each against the euro, Chinese yuan and Japanese yen. It also holds more than $50 million in U.S. Treasury securities, highlighting its significant exposure to government securities.

See also: Elon Musk’s ex-wife and mother of his five children says the secret to his great success is working harder than the average “bear” and saying “no” more often.

Why does it matter?: To address a potential conflict of interest, Besant has pledged to resign from KeySquare and divest his stake in the partnership if confirmed by the Senate, according to Reuters.

The nomination comes as Trump has signaled plans for a national cryptocurrency strategy, including a potential executive order to create a strategic bitcoin reserve. However, the Federal Reserve recently stated that it lacks the authority to purchase Bitcoin Without legislative changes.

Besant’s portfolio also includes luxury real estate, with properties in the Bahamas and Cashiers, North Carolina, each valued between $5 million and $25 million, as well as art and antiques valued between $1 million and $5 million.

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Disclaimer: This content was produced in part with the help of artificial intelligence tools and was reviewed and published by Benzinga editors.