Key Notes
- US Treasury Secretary Scott Bessent posted on X about Bitcoin’s reliability over the last 17 years.
- Charles Hoskinson is somewhat surprised that he made the post as an elected official.
- Bitcoin has seen more mainstream and institutional adoption this year.
Cardano founder Charles Hoskinson finds it amusing that the United States Treasury Secretary is advocating for Bitcoin (BTC). He suggested this stance in an X post from November 1 after Scott Bessent made a post acknowledging the publication of the Bitcoin Whitepaper 17 years ago.
US Pro-crypto Administration is Vocal About Bitcoin
On October 31, the Bitcoin community was reminded that it had been exactly 17 years since Satoshi Nakamoto published the Bitcoin Whitepaper. US Treasury Secretary Scott Bessent also posted on X regarding the anniversary, highlighting the reliability of the flagship cryptocurrency over the years.
Hoskinson immediately reacted to this post, stating that it is “profoundly magical” to see the US Treasury secretary making a post about Bitcoin and its reliability. It signals a notable shift from the anti-BTC stance in the region previously. The pro-crypto administration of President Donald Trump should be recognized for this change.
Moreover, the statement reflects the mainstream acceptance and adoption of the firstborn digital asset. Over the last few months, several institutions and countries have added Bitcoin to their strategic reserves.
France Plans to Launch Bitcoin Strategic Reserve
Just before October came to an end, France saw a proposed bill to become the first country in Europe to establish a Bitcoin Strategic Reserve. Presented by UDR President Eric Ciotti, the bill was proposed to the National Assembly to acquire 2% of the BTC supply. This is about 420,000 BTC, to be acquired over 7-8 years to protect France’s financial sovereignty.
Even the Big Whale co-founder, Gregory Raymond, acknowledged that this is the first time such a comprehensive bill has been proposed in France.
Meanwhile, BTC price has been stuck around $110,000 for quite a while, even during the well-recognized “Uptober.” This is the first time in seven years that the coin is closing the tenth month in the red. At the time of this writing, CoinMarketCap data showed that the Bitcoin price was trading for $109,992.59.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
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Source: https://www.coinspeaker.com/charles-hoskinson-reacts-to-treasury-sec-scott-bessents-bitcoin-post/
