U.S. Treasury Secretary's Appearance at Bitcoin Bar Sparks Community Reaction

According to Odaily, U.S. Treasury Secretary Scott Bessent made an unexpected appearance at the opening night of Pubkey, a Bitcoin-themed bar in Washington, which has stirred significant reactions within the Bitcoin community. Many view this as a notable signal for Bitcoin. Ben Werkman, Chief Investment Officer at Bitcoin reserve company Strive, commented on the X platform that Bessent's attendance at the Pubkey DC launch could be seen as a moment that, in hindsight, will appear 'obvious.' Steven Lubka, Vice President of Investor Relations at Nakamoto, referred to it as 'the signal you've been waiting for.' Scott Bessent is widely regarded as a pro-cryptocurrency figure. His nomination for Treasury Secretary at the end of 2024 drew attention, as he had previously advocated for the U.S. to become a global hub for digital assets and supported several cryptocurrency-related bills, including the GENIUS Act. In August, Bessent clarified that his department was still exploring budget-neutral ways to purchase Bitcoin for strategic reserves. Bessent's support for the Bitcoin bar comes amid a bearish sentiment in the Bitcoin market. After reaching an all-time high of $125,100 on October 5, Bitcoin has entered a downward trend, trading at approximately $85,500 at the time of reporting.