Bessant makes a surprise appearance at a "Bitcoin-themed bar": the crypto community is overjoyed.

Author: Ye Huiwen; Source: Wall Street News

U.S. Treasury Secretary Ben Bessenter made a surprise appearance at a Bitcoin-themed bar in Washington, D.C., on Thursday. This move 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.

Bessenter arrived at the opening event of the bar, named Pubkey, without prior announcement. Several industry executives, including Strive Chief Investment Officer Ben Werkman and Nakamoto Vice President of Investor Relations Steven Lubka, reacted quickly, describing the event as a decisive "bullish signal" that investors had been waiting for, believing it marked a substantial shift in the regulatory attitude.

The location Bessenter visited itself has a certain political symbolic significance. This Pubkey in Washington is a sister store to the New York location of the same name. Presidential candidate Trump made a campaign stop at one of the establishment's locations, making the brand a unique node 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 company Strive, posted on the X platform on Thursday that the Treasury Secretary's attendance at the Pubkey Washington launch event was a historic moment, and that everything would be "obvious" in retrospect. Steven Lubka, Vice President of Investor Relations at Nakamoto, went even further, calling 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 appearance is a very positive signal for Bitcoin. 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 US goal should be 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.