Benson made a surprise appearance at the "Bitcoin-themed bar," causing a stir in the crypto community: This is the signal!

U.S. Treasury Secretary Besant made an unexpected appearance at a Bitcoin-themed bar in Washington on Thursday, an action that quickly sparked strong reactions within the cryptocurrency community. This was widely interpreted by market participants as a clear signal of the federal government's supportive stance towards the digital asset industry.

Besant attended the opening event of the bar named Pubkey without prior announcement. Several industry executives, including Strive Chief Investment Officer Ben Werkman and Nakamoto Vice President of Investor Relations Steven Lubka, responded swiftly, describing the event as the decisive “bullish signal” investors have long awaited, believing it marks a substantive shift in regulatory attitude.

The venue itself carries certain political symbolism. The Washington-based Pubkey is a sister location to a venue of the same name in New York. Former President Trump, as a candidate, made a campaign stop at one of the brand’s outlets, making it a unique nexus connecting politics and cryptocurrency culture.

This high-level endorsement comes as Bitcoin is experiencing a significant price correction. Although Bitcoin's price has fallen from its all-time high of over $125,000 in early October to around $85,500, and market sentiment is subdued, analysts believe the Treasury Secretary’s presence goes beyond the influence of short-term price fluctuations, highlighting America’s long-term strategic commitment to integrating digital assets into the mainstream financial system.

This visit further solidifies Besant’s reputation as a crypto-friendly Treasury Secretary. He has publicly advocated for the U.S. to become a global hub for digital assets, and actively promoted related policy explorations, including strategic Bitcoin reserves. His appearance this time is seen as a continuation and confirmation of his policy stance.

Industry Views as a Key Turning Point

The crypto community reacted enthusiastically to Besant’s appearance. On Thursday, Strive CIO Ben Werkman wrote on platform X that the Treasury Secretary’s attendance at Pubkey’s Washington launch event was a historic moment, saying that, with hindsight, everything will become “obvious.”

Nakamoto Vice President of Investor Relations Steven Lubka was even more direct, calling it “the signal you’ve all been waiting for.” In addition, several notable industry insiders, including Bitcoin analyst Fred Krueger, Gemini Chief of Staff Jeff Tiller, podcast host Natalie Brunell, and Bitcoin Policy Institute co-founder David Zell, all regard Besant’s appearance as a very positive signal for Bitcoin.

Policy Consistency and Strategic Reserve Plans

Since being nominated for the Treasury Department at the end of 2024, Besant has been regarded as an ally in the crypto sector. He has previously made clear that the U.S. should aim to be the global center for digital assets, and has supported several cryptocurrency bills, including the “Genius Act.”

More substantively, in August this year, Besant clarified that his department is exploring ways to purchase Bitcoin in a “budget-neutral” manner to establish a strategic Bitcoin reserve. His public appearance is interpreted as evidence that these policy discussions are ongoing and remain under top-level consideration.

Price Correction and Divergence in Market Sentiment

Besant’s endorsement comes at a time when Bitcoin market sentiment is relatively fragile. According to CoinMarketCap data, after hitting an all-time high of $125,100 on October 5, Bitcoin entered a downward trend, with prices at around $85,500 at the time of publication.

Cryptocurrency trader MacroScope analyzed on platform X that in such a market environment, signals like this often go unnoticed at first, but traders will eventually look back and realize their significance. Santiment’s research platform Sanbase showed that discussion on social media Thursday was highly polarized: about half of opinions predicted Bitcoin would fall to the $20,000 to $70,000 range, while the other half remained bullish, with targets between $100,000 and $130,000.

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