Scott Bessent May Liquidate Hedge Fund and Bitcoin Before Taking Over US Treasury

• Bessent plans to dissolve hedge fund Key Square Group.
• Nomination reinforces pro-cryptocurrency agenda in Trump administration.
• Divestment includes Bitcoin ETFs and other financial assets.

Scott Bessent, Donald Trump's nominee to lead the U.S. Treasury Department, has taken important steps to avoid potential conflicts of interest ahead of his possible Senate confirmation. The veteran investor announced plans to dissolve Key Square Group, his $577 million hedge fund, by the end of March. The decision is part of an ethical commitment, which also includes the divestment of significant assets, such as bets on cryptocurrencies and biotechnology companies.

At the time of publication, the price of Bitcoin was quoted at US$92.081,08 with a drop of 2.9% in the last 24 hours.

In a document released by the US Office of Government Ethics, Bessent revealed that he had um net worth of over $500 million, with a significant portion of it distributed in Bitcoin ETFs, such as BlackRock's iShares Bitcoin Trust, valued between $250 and $500. In addition, his holdings include U.S. Treasury bonds and investments in foreign currencies, such as the euro, yuan and yen.

Bessent also plans to step down from positions at institutions such as Rockefeller University and his family foundation, a strategy that seeks to ensure that his decisions as Treasury Secretary are not influenced by personal financial interests.

The Trump administration has attracted a number of pro-cryptocurrency appointees, raising expectations for greater regulatory clarity in the sector. Bessent is known for his support of Bitcoin, calling crypto assets “key to economic freedom and innovation.” The appointment of other crypto advocates to key positions, such as at the SEC and CFTC, reinforces the administration’s proactive stance on cryptocurrencies.

Analysts point out that while Bessent has promised to liquidate much of his holdings, it is still unclear whether his Bitcoin ETF holdings will be included in the divestment process. There is some debate over whether he will continue with this investment, especially amid a changing political and financial landscape.

With Trump’s inauguration scheduled for January 20, Bessent and his team are expected to focus on implementing policies that stimulate economic growth and benefit the cryptocurrency industry in the United States.