U.S. Treasury Secretary Scott Bessent Issues Bullish Message for Bitcoin
US Treasury Secretary Scott Bessent made a statement on the 17th anniversary of Bitcoin’s white paper, sending a message to the cryptocurrency community and referring to the Democrats in the Senate.
Amidst the ongoing government shutdown, Bessent shared a message on social media platform X, using the phrase “Bitcoin never shuts down,” highlighting the network’s uninterrupted operation and offering a subtle critique of Democrats, saying, “Some lawmakers could learn something from this.”
“17 years after the white paper was published, the Bitcoin network is still up and running and more resilient than ever. Bitcoin will never shut down.”
October 31st holds special significance in the cryptocurrency world. The nine-page Bitcoin white paper, published in 2008 by someone using the pseudonym Satoshi Nakamoto, laid the foundation for a decentralized digital currency system. This document ushered in a new era in the digital economy by demonstrating the possibility of peer-to-peer transactions without the need for financial intermediaries. Since then, the Bitcoin network has operated without interruption since its launch in January 2009.
Bessent’s statement is being viewed not only as an anniversary celebration but also as a policy signal. Following President Donald Trump’s signing of the GENIUS Act in July, Bessent described stablecoins as a “revolution of digital finance” and argued that an internet-based dollar system could both strengthen the US’s reserve currency status and expand global payment access. This statement was seen as a demonstration of the Treasury’s positive approach to digital financial infrastructure.
*This is not investment advice.