Bessant spotted at a "Bitcoin-themed bar": the crypto industry was "delighted".

U.S. Treasury Secretary Bessant's surprise appearance at a Bitcoin-themed bar in Washington has been interpreted by the crypto industry as a strong bullish signal, indicating federal government support for digital assets. This high-level endorsement, occurring during a Bitcoin price correction, is seen as a key turning point that underscores the U.S. long-term strategic commitment to integrating cryptocurrencies into the mainstream financial system.

The visit solidified Bessant's reputation as a crypto-friendly Treasury Secretary, with industry executives calling it a historic moment and the decisive signal investors had been waiting for.
The location holds political symbolism, as a sister bar was previously visited by presidential candidate Donald Trump, creating a unique link between politics and crypto culture.
Bessant has previously advocated for the U.S. to become a global digital asset hub and promoted policy explorations, including a strategic Bitcoin reserve, with this appearance confirming his policy position.
Market participants view this as evidence that high-level policy discussions about cryptocurrency integration and Bitcoin reserve planning are ongoing and receiving serious attention.

Author: Ye Huiwen

Source: Wall Street News

U.S. Treasury Secretary Bessant made a surprise appearance at a Bitcoin-themed bar in Washington on Thursday, a move that quickly sparked a strong reaction in the cryptocurrency community and was widely interpreted by market participants as a clear signal of the federal government's support for the digital asset industry.

Bessant made an unannounced appearance at the opening of a bar called Pubkey. Several industry executives, including Strive's Chief Investment Officer Ben Werkman and Nakamoto's Vice President of Investor Relations Steven Lubka, reacted swiftly, describing the event as a decisive "bullish signal" investors had been waiting for, signifying a substantial shift in regulatory attitudes.

The location Bessant visited carries a certain political symbolism. This Pubkey location in Washington, D.C., is a sister store to the eponymous location in New York. Presidential candidate Donald Trump made a campaign stop at one of the establishment's locations, making the brand a unique juncture connecting politics and cryptocurrency culture.

This high-level endorsement comes at a time when Bitcoin is undergoing a significant price correction. Although the price of Bitcoin has fallen from its all-time high of over $125,000 in early October to around $85,500, and market sentiment is low, analysts believe that the Treasury Secretary's personal presence transcends the impact of short-term price fluctuations, highlighting the United States' long-term strategic commitment to integrating digital assets into the mainstream financial system.

This visit further solidified Bessant's reputation as a Treasury Secretary with a friendly stance on cryptocurrencies. He had previously publicly advocated for the U.S. to become a global digital asset hub and actively promoted related policy explorations, including a strategic Bitcoin reserve; this appearance is seen as a continuation and confirmation of his policy position.

The industry views it as a key turning point.

The cryptocurrency community reacted enthusiastically to Bessant's appearance. Ben Werkman, chief investment officer of Bitcoin finance firm Strive, posted on the X platform on Thursday that the Treasury Secretary's attendance at the Pubkey Washington launch was a historic moment, and that everything would be "obvious" in retrospect.

Steven Lubka, VP of Investor Relations at Nakamoto, more directly called it "the signal you've been waiting for." Furthermore, several prominent industry figures, including Bitcoin analyst Fred Krueger, Gemini Chief of Staff Jeff Tiller, podcast host Natalie Brunell, and David Zell, co-founder of the Bitcoin Policy Institute, all believe that Bessant's emergence is a very positive sign for Bitcoin.

Policy alignment and strategic reserve planning

Since being nominated by the Treasury Department in late 2024, Bessant has been considered an ally in the cryptocurrency space. He has previously stated explicitly that the United States should aim to become a global hub for digital assets and has expressed support for several cryptocurrency bills, including the Genius Act.

More substantively, in August of this year, Bessant clarified that his department was exploring purchasing Bitcoin through a "budget-neutral" approach to build a strategic Bitcoin reserve. This public endorsement is interpreted by the market as evidence that the aforementioned policy discussions are ongoing and have received high-level attention.