## Why Is the Treasury Secretary Frequently Showing Favor to Cryptocurrencies? Bitcoin Bar Opening Sparks Deep Reflection

U.S. Treasury Secretary Scott Bessent recently appeared at the opening event of a new Bitcoin-themed bar, Pubkey, in Washington, which quickly became a hot topic within the crypto community. The location choice and guest lineup of this Bitcoin bar signal a subtle shift: the attitudes of top U.S. government officials toward digital assets are evolving.

**Policy Signal or Market Boost?**

Ben Werkman, Chief Investment Officer of Strive, stated on social media that this attendance by the Treasury Secretary could be recorded in crypto history as a pivotal turning point. Steven Lubka, Vice President of Investor Relations at Nakamoto, directly said this is a long-anticipated policy signal from the market. In fact, Bessent was highly regarded when he was nominated as Treasury Secretary late last year; he has long been viewed by the industry as a friendly figure toward cryptocurrencies.

**Not Just Attendance, But Genuine Support**

Bessent’s support is evident not only in his presence at the Bitcoin bar opening. This year, he has promoted several crypto-related bills, including the highly anticipated GENIUS Act. More notably, in August, he publicly stated that the U.S. Treasury Department is studying ways to incorporate Bitcoin into the national strategic reserve in a budget-neutral manner, which indicates a rather aggressive policy stance.

**Political Warmth Amid Price Adjustments**

Currently, Bitcoin’s market performance is in a correction phase. According to the latest data, BTC is trading at approximately $88.43K, still some distance from the all-time high of $126.08K set on October 5. The market generally considers this a normal profit-taking process and does not alter the medium-term bullish outlook.

**Diverging Market Opinions, but an Optimistic Direction**

Investors have differing expectations for the future trend. Conservative predictions suggest the price may retrace to the $20,000–$70,000 range, while optimists maintain a bullish target of $100,000–$130,000. Amid these market divisions, the Treasury Secretary’s supportive signals are particularly significant—they could reinforce investor confidence in long-term gains.

From the seemingly ordinary event of the bar opening, it appears that the U.S. government’s acceptance of cryptocurrencies is deepening, which has profound implications for the industry’s development.