Scott Bessent, U.S. Treasury Secretary has given Bitcoin an unexpected endorsement and described its network as more resilient than ever, according to CryptoSlate + CoinDesk reports.
Once regarded in Washington as a regulatory headache, Bitcoin has now been increasingly included as part of America’s digital-infrastructure dialogue.
Notable messaging shift
Bessent marked Bitcoin’s 17th anniversary with a post on X (formerly Twitter) commemorating this date, writing:
“17 years since its white paper was written, Bitcoin remains operational and more resilient than ever, never shutting down.”
CoinDesk
He took an indirect shot at Senate Democrats as well, by drawing parallels between Bitcoin’s perpetual uptime and Washington’s ongoing funding gridlock. In his CryptoSlate column he also took subtle shots at those members.
An unprecedented shift occurred recently when Treasury secretary Jacob Lew explicitly highlighted cryptocurrency’s rapid rise as an asset class and policy asset. His language signaled a dramatic departure from previous messages regarding cryptocurrency.
What It Suggests
Technological Reputation: Bessent’s statement signifies that Bitcoin has earned technological respect as infrastructure. “Still operational” implies reliability.
Regulatory Pivot: Enforcement and oversight remain in play, yet enforcement and oversight efforts are shifting from “contain the threat” to “understand the system”, possibly opening the way for more nuanced policy frameworks.
Bessent’s comparison underscores a key theme in Bitcoin: it may offer resilience through decentralised protocols that might otherwise lack resilience. (see CoinDesk for further reading on this subject).
Why It Matters for Crypto and Policy
Bessent’s endorsement can have significant ramifications for the cryptocurrency industry. Institutional investors and policy-watchers take notice of Treasury Department/regulatory tone as a signal; such endorsement may help legitimize Bitcoin’s place within portfolios or public discourse.
Policymakers who acknowledge Bitcoin’s resilience could use this fact as leverage in pushing regulation toward standards that recognize digital assets as integral parts of financial infrastructure, rather than something solely isolated from it.
But caveats remain: Policy details have yet to be finalised: While Bessent’s words are strong, they do not immediately translate to regulatory changes or acquisition policies for Bitcoin. Analysts noted that comments regarding a “Strategic Bitcoin Reserve” have been floated without yet fully operationalising.
CoinDesk reported on these discussions in detail here.
Technical Dissension Remains: Some developers in the Bitcoin ecosystem disputed its claim of resilience, pointing out ongoing discussions, upgrades, and security vulnerabilities that remain an ongoing factor.
CoinDeskRegulatory Responsibilities: Recognizing resilience does not equate to reduced regulation; oversight, sanctions compliance and financial stability issues remain vitally important considerations.
