important notes
- US Treasury Secretary Scott Bessent posted on X about Bitcoin’s reliability over the past 17 years.
- Charles Hoskinson is somewhat surprised that he took the post as an elected official.
- Bitcoin has seen more mainstream and institutional adoption this year.
Cardano founder Charles Hoskinson finds it interesting that the US Treasury Secretary supports Bitcoin (BTC). He hinted at this stance in a Nov. 1 X post, after Scott Bessent posted a post acknowledging the publication of the 17-year-old Bitcoin whitepaper.
U.S. crypto-promoting authorities are speaking out about Bitcoin
On October 31st, the Bitcoin community was reminded that it has been exactly 17 years since Satoshi Nakamoto published the Bitcoin Whitepaper. U.S. Treasury Secretary Scott Bessent also posted on X regarding the anniversary, highlighting the long-standing reliability of the flagship cryptocurrency.
“Seventeen years after the white paper, the Bitcoin network is still up and running and more resilient than ever. Bitcoin will never shut down,” the US government official explained, calling on Senate Democrats to learn something from it.
Hoskinson immediately responded to the post, saying it was “pretty magical” for the US Treasury Secretary to post about Bitcoin and its reliability. This marks a marked change from previous anti-BTC attitudes in the region. President Donald Trump’s pro-crypto administration should be recognized for this change.
There’s something very magical about a sitting US Treasury secretary tweeting about Bitcoin and its reliability.
— Charles Hoskinson (@IOHK_Charles) November 1, 2025
Furthermore, this statement reflects the mainstream acceptance and adoption of firstborn digital assets. Over the past few months, several institutions and countries have added Bitcoin to their strategic reserves.
France plans to launch Bitcoin strategic reserve fund
Just before the end of October, France became the first country in Europe to see legislation to establish a Bitcoin Strategic Reserve. The bill, introduced by UDR President Eric Ciotti, was proposed to Congress to obtain 2% of the BTC supply. This amount is approximately 420,000 BTC and will be acquired over 7-8 years to protect France’s financial sovereignty.
Even Big Whale co-founder Gregory Raymond admitted that it was the first time such a comprehensive bill had been proposed in France.
Meanwhile, BTC price has been stuck around $110,000 for quite some time, even during the well-known “Uptober” period. This is the first time in seven years that the coin has finished its 10th month in the red. At the time of writing, the price of Bitcoin was trading at $109,992.59, according to CoinMarketCap data.
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Benjamin Godfrey is a blockchain enthusiast and journalist who enjoys writing about real-world applications of blockchain technology and the innovations that drive public acceptance and global integration of emerging technologies. His desire to educate people about cryptocurrencies has also inspired his contributions to popular blockchain media and sites.