As per the latest Bloomberg report, it’s been indicated that Scott Bessent, the recently-nominated contender for the position of Treasury secretary, plans to sell off his Bitcoin ETF investments.
This wealthy U.S. businessman holds a value of BlackRock’s iShares Bitcoin Trust ETF (IBIT) shares that does not exceed $500,000.
Overall, Bessent has listed more than $500 billion worth of assets.
Should the Senate’s approval be secured, it is expected that this individual would depart from the Connecticut-based hedge fund, Key Square Group, a venture he helped establish in 2015.
The newly appointed Treasury secretary is reported to hold significant investments in the SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust (QQQ) and Invesco S&P 500 Equal Weight ETF (RSP), as shown in his financial disclosure statement.
Additionally, he holds a small investment in the iShares Gold Trust (IAU), the iShares Silver Trust (SLV), and the SPDR Gold Shares (GLD).
Bessent, chosen to succeed the incumbent Treasury Secretary Janet Yellen, is generally seen as someone favorable towards cryptocurrencies.
During an interview with Fox Business in July, Bessent expressed that cryptocurrency represents liberty, further stating his belief that this sector is not going anywhere.
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2025-01-12 14:46