Bitcoin More Resilient Than Government: Bessent's Message

In the United States, as the government is experiencing a partial shutdown, a significant milestone is occurring for Bitcoin. U.S. Treasury Secretary Scott Bessent, in a statement made on the 17th anniversary of Bitcoin's white paper, praised the network's resilience while criticizing the Democrats. Bessent's remarks are seen not just as a celebration, but also as a signal of crypto-focused policy.

October 31 holds special significance for Bitcoin. The nine-page Bitcoin white paper, published by Satoshi Nakamoto in 2008, laid the foundation for today’s decentralized finance network. The crypto community celebrates this date each year to emphasize the network’s operation without dependence on the government or any institution.

Bessent’s statement continues the recent trend of crypto-friendly messages from the U.S. Treasury Department. Following the enactment of the GENIUS Act in July, Bessent described stablecoins as a “digital financial revolution” and highlighted the importance of reinforcing the dollar's status as a global reserve currency with digital assets. In August, he indicated that the Treasury would explore avenues to accumulate Bitcoin without requesting a new budget, introducing the idea of creating a “Strategic Bitcoin Reserve.”

Bessent’s comment that “Bitcoin never closes” presents a striking contrast to the U.S. Government's partial shutdown that has been ongoing since October 1. During this period, approximately 900,000 public employees have been furloughed, and many public institutions have ceased operations. Thus, Bessent’s statement carries a strong political message linking Bitcoin’s continuity with the deadlock in Washington.

While some figures supported Bessent's statement, Bitcoin developer Luke Dashjr claimed that the network is “weaker than before.” Another analyst, Eric Wall, commented sarcastically, “Bitcoin died after version 30.” Meanwhile, investors and strategists are calling for the Treasury to begin purchasing Bitcoin reserves.