Bitcoin endorsed by the US Treasury Secretary! Bessenet: More resilient than ever and will never shut down.

U.S. Treasury Secretary Scott Bessent stated on social media that Bitcoin is “more resilient than ever,” and named Senate Democrats should learn from this, which has sent shockwaves through Washington, D.C. This is the first time a sitting U.S. Treasury Secretary has publicly stated that Bitcoin is not just a speculative tool.

Washington's 180-degree shift in attitude

(Source: X)

Until recently, the mainstream view in Washington D.C. regarded Bitcoin and the broader cryptocurrency market as a regulatory challenge. It was seen as a threat to financial stability, or at best, just a shiny gambling den for retail fanatics and anarchists. “Operation Chokepoint 2.0,” as any cryptocurrency veteran would tell you, is less of a conspiracy and more of a well-orchestrated operation.

Banks have quietly cut off ties with exchanges. Startups find it difficult to obtain basic compliance services. For a period, the message conveyed by senior management was clear: digital assets are not accepted by the U.S. financial system. Cryptocurrency companies find themselves excluded from traditional banking services, and even the most compliant enterprises struggle to open basic business accounts. This systemic exclusion is not accidental but is seen as a conscious policy choice.

Therefore, the Secretary of the Treasury described Bitcoin as a system that the government should learn from rather than suppress, a news headline that sounded almost ironic last year. More importantly, this publicly acknowledges that Bitcoin is not just a financial instrument; it is also a crucial part of the ongoing infrastructure in the United States. This change in perception did not happen overnight, but rather has been gradually formed through years of market testing and institutional adoption.

The remarks of Secretary of the Treasury Bessent stand in stark contrast to the attitudes of previous Treasury officials. Former Treasury Secretary Janet Yellen has expressed concerns multiple times about the use of cryptocurrencies for illegal activities, while earlier officials directly linked Bitcoin to money laundering and terrorist financing. Today, the current Treasury Secretary not only acknowledges the legitimacy of Bitcoin but also views its resilience as a model for the government to learn from, indicating that the symbolic significance of this shift in attitude goes far beyond its literal meaning.

Why the support of the Minister of Finance is significant

By emphasizing the normal operating time and resilience of Bitcoin, Bessenet is rewriting the official narrative. This is not about the dramatic fluctuations in price or news about ransomware; quite the opposite. It is a subtle acknowledgment: the United States can learn from Bitcoin, not just subdue it through regulation. This framing itself is revolutionary, repositioning Bitcoin from a “problem that needs to be regulated” to a “case worth learning from.”

The mention of Senate Democrats is certainly not accidental. The legislative deadlock around policy continues unabated. The U.S. government has been shut down for a whole month, and Bitcoin has never experienced such a situation. Despite the ongoing political storm, the Bitcoin network continues to operate, processing transactions, crossing borders, weathering the bear market, and proving its value piece by piece. This contrast is highly ironic: the world's most powerful government is paralyzed by partisan strife, while a decentralized network without central control has been running for 17 years.

Three Proofs of Bitcoin Resilience

Zero Downtime: Since its launch in January 2009, the Bitcoin network has never completely shut down due to technical failures or attacks.

Censorship Resistance: Bitcoin transactions continue to be processed regardless of changes in the political environment, free from the control of any single entity.

Economic Incentive Design: Aligning the interests of miners, nodes, and users to ensure the network's self-sustainability and security.

Besenet's remarks also imply a questioning of the efficiency of the American financial system. While traditional financial systems close on weekends and holidays, and cross-border transfers take days, the Bitcoin network operates 24/7 and can confirm transactions from anywhere in the world every 10 minutes on average. From the perspective of technological infrastructure, Bitcoin indeed offers many design concepts that traditional systems could learn from.

The Excitement of the Crypto Community and the Contradictions of the Market

Of course, the Bitcoin community is extremely excited about Bessent's post. Hunter Horsley, CEO of Bitwise, commented, “Are you bearish on Bitcoin? Please see below. In 2025, Bitcoin will become mainstream.” Bitcoin advocate and investor Mark Moss responded, “This is how America leads the way! Go for it!” Reactions on social media show that long-term supporters view this as a victory for years of effort, marking a historic moment for Bitcoin moving from the margins to the center.

However, the background of this article is quite perplexing. The pessimistic sentiment in the cryptocurrency Twitter sphere can be said to be unprecedented. The price of Bitcoin may be hovering around $110,000, but the “Uptober” event did not bring the rebound that investors were hoping for. This disconnect between price and sentiment is one of the most contradictory features of the current market.

Analyst Will Clemente commented, “To be honest, the atmosphere in the cryptocurrency group chat I’m in is quite frustrating; people are either completely giving up or have already turned to other asset classes. Everyone seems worn out, discouraged, and demoralized. Considering the trading conditions of Bitcoin this year, how can you blame them?” This sentiment stands in stark contrast to the high price of $110,000, reflecting the huge gap between market participants' expectations and reality.

Social sentiment, the frenzy of altcoins, meme coins, RWA (Real World Asset Tokenization), none of these have driven up prices. However, the finance minister has praised Bitcoin. Regulatory barriers are being removed. Large amounts of capital are finally flooding in with investment directives. The market structure is maturing every week, and blue-chip stocks are quietly accumulating. This structural change under the surface calm may be the root of the confusion felt by retail investors.

The market is changing. Retail investors and Bitcoin pioneers are giving way to institutional investors. Bitcoin as an asset class is maturing, no longer experiencing the extreme price volatility it once did. In the past, similar remarks made by the U.S. Treasury Secretary would have been enough to cause Bitcoin prices to soar. Today, the market's response is more restrained and rational, which precisely demonstrates that Bitcoin is transitioning from a speculative tool to a mature asset.

From Regulatory Barriers to Infrastructure Discussions

Despite the current pessimistic situation, the statement from Bessenet and the special period that Bitcoin is in should not be underestimated. For most of Bitcoin's developmental history, its very existence has been viewed as a threat by officials. It has been seen as something that needs to be monitored, restricted, stifled, or at least subdued through taxation. Today, a Treasury official publicly supports the resilience of Bitcoin and praises the transparency and stability of its system. This is not just a bullish signal, but also an invitation.

The meaning of this invitation is multi-layered. First, it announces to the world that the United States is embracing rather than resisting Bitcoin, which has a demonstration effect for policymakers in other countries. Second, it eliminates the last political risk concerns for institutional investors, making large-scale allocations of Bitcoin more feasible. Third, it provides political cover for legislators, making support for cryptocurrency-friendly legislation no longer political suicide.

Washington may still debate endlessly, and various claims may continue to change unpredictably. But one thing is very clear: after years of stalemate, the United States has finally removed Bitcoin from the blacklist and officially included it in the discussions of infrastructure. As policymakers scramble for answers, perhaps they should truly learn from this “ever-open” network.

The long-term effects of this transformation may far exceed the current market reaction. When the treasury secretary of the world's largest economy publicly endorses the technical architecture of Bitcoin, it paves the way for Bitcoin to enter sovereign wealth funds, pensions, and central bank reserves. This is not a short-term catalyst for price, but a critical juncture in the transition of Bitcoin from a “speculative asset” to a “strategic reserve.”