U.S. Treasury Secretary Scott Bessent praised the Bitcoin network's reliability on October 31, 2025, coinciding with the 17th anniversary of Satoshi Nakamoto’s whitepaper, sparking discussions. Bessent's endorsement highlights Bitcoin's stability, contrasting it with political challenges. Though immediate market impacts are limited, it suggests potential shifts in U.S. digital asset policies.
U.S. Treasury Secretary Scott Bessent praised Bitcoin's reliability on October 31, coinciding with the whitepaper's 17th anniversary.
The praise ignited varied reactions among crypto leaders and highlighted Bitcoin's ongoing presence, though no immediate U.S. Treasury actions followed.
Bitcoin Celebrates 17 Years of Uninterrupted Uptime
On the anniversary of its whitepaper, Scott Bessent acknowledged Bitcoin's resilience and reliability. His comments highlighted the network's ability to maintain continuous uptime amid global uncertainties.
Bessent's statement coincided with a partial U.S. government shutdown, possibly reflecting the political critique embedded in his endorsement.
Mixed Reactions to Treasury's Bitcoin Endorsement
Crypto industry leaders had mixed reactions to the statement. While some praised its timing, others expressed skepticism about the network's perceived invulnerability post-upgrade.
The Treasury's stance does not indicate current BTC asset acquisition, but Bessent’s earlier remarks suggest openness to strategic reserves in the future.
Bitcoin's Growing Role in U.S. Financial Discourse
Past U.S. officials rarely hailed Bitcoin explicitly. The GENIUS Act was a similar acknowledgment, but it primarily focused on stablecoins.
Historically, Bitcoin endorsements have sparked community optimism but not mandatory government actions. Future policy may eventually shape market trends aligning with Bessent’s views.
Scott Bessent, U.S. Treasury Secretary, - "17 years after the white paper, the Bitcoin network is still operational and more resilient than ever. Bitcoin never shuts down. @SenateDems could learn something from that."