With only a short time left until Donald Trump officially takes office, he continues to select cryptocurrency supporters for his administration.
At this point, Scott Bessent, one of the crypto supporters and Trump’s choice as Treasury Secretary, made a move towards Bitcoin.
Trump’s pick for Treasury Secretary, Scott Bessent, will liquidate a number of his investments, including spot Bitcoin ETFs, in order to avoid a potential conflict of interest, according to the New York Times.
Bessent said in a statement that it has $700 million in investment assets.
While Bitcoin spot ETFs are among the assets that Bessent will sell, the famous name announced that he holds Bitcoin ETFs worth between $250,000 and $500,000.
Accordingly, it was stated that Bessent kept his Bitcoin investments in BlackRock’s IBIT.
Bessent added that he also has significant investments in large ETFs such as the SPDR S&P 500 Trust (SPY) and the Invesco QQQ Trust (QQQ).
President-elect Donald Trump nominated Bessent for Treasury Secretary on Nov. 23, and her Senate confirmation hearing is scheduled for Jan. 16.
*This is not investment advice.
