The Bitcoin neighborhood was abuzz after US Treasury Secretary Scott Bessent made an unannounced go to to the opening evening of Pubkey, a brand new Bitcoin-focused bar in Washington, DC.
The occasion, seen by many as a symbolic second, shortly drew reactions from distinguished Bitcoiners on social media.
Ben Werkman, CIO at Attempt, captured the sentiment in a publish:
“Having the Secretary of the Treasury on the Pubkey DC launch looks as if a second I might simply look again on and say ‘wow, it was all so apparent.’”
Steven Lubka, vp of investor relations at Nakamoto, echoed this enthusiasm, calling Bessent’s presence “the signal you might have been ready for.”
Bessent’s pro-bitcoin status
Bessent has gained a status as being pleasant towards bitcoin, particularly since his nomination as Treasury Secretary in late 2024.
He has advocated for the US to turn out to be a worldwide hub for digital belongings and supported a number of latest bitcoin-related payments, together with the GENIUS Act.
In August, Bessent said that his division was nonetheless evaluating budget-neutral strategies for the US to amass bitcoin for a Strategic Bitcoin Reserve.
Reactions amid market downturn
Bessent’s go to comes throughout a interval of weak sentiment for bitcoin.
After hitting an all-time excessive of $125,100 on October 5, the worth slipped to round $85,500 on the time of the occasion.
Social media buzz mirrored a break up between bearish and bullish takes, with some tying Bessent’s look to future market prospects. As dealer MacroScope famous:
“In one of these market, alerts like this don’t matter a lot. Ultimately, merchants look again and understand it mattered.”
Pubkey’s rising profile
Pubkey DC follows the success of its sister venue in New York, which opened in late 2022.
The unique location drew nationwide consideration in September 2024 when Donald Trump made a marketing campaign cease there.
The brand new bar’s launch additional cements its position as a gathering spot for Bitcoiners and high-profile company alike.