The Bitcoin community was abuzz after US Treasury Secretary Scott Bessent made an unannounced visit to the opening night of Pubkey, a new Bitcoin-focused bar in Washington, DC.

The event, viewed by many as a symbolic moment, quickly drew reactions from prominent Bitcoiners on social media.

Community sees a sign for bitcoin

Ben Werkman, CIO at Strive, captured the sentiment in a post:

“Having the Secretary of the Treasury at the Pubkey DC launch seems like a moment I could easily look back on and say ‘wow, it was all so obvious.’”

Steven Lubka, vice president of investor relations at Nakamoto, echoed this enthusiasm, calling Bessent’s presence “the sign you have been waiting for.”

Bessent’s pro-bitcoin reputation

Bessent has gained a reputation as being friendly toward bitcoin, especially since his nomination as Treasury Secretary in late 2024.

He has advocated for the US to become a global hub for digital assets and supported several recent bitcoin-related bills, including the GENIUS Act.

In August, Bessent stated that his department was still evaluating budget-neutral methods for the US to acquire bitcoin for a Strategic Bitcoin Reserve.

Reactions amid market downturn

Bessent’s visit comes during a period of weak sentiment for bitcoin.

After hitting an all-time high of $125,100 on October 5, the price slipped to around $85,500 at the time of the event.

Social media buzz reflected a split between bearish and bullish takes, with some tying Bessent’s appearance to future market prospects. As trader MacroScope noted:

“In this type of market, signals like this don’t matter much. Eventually, traders look back and realize it mattered.”

Pubkey’s growing profile

Pubkey DC follows the success of its sister venue in New York, which opened in late 2022.

The original location drew national attention in September 2024 when Donald Trump made a campaign stop there.

The new bar’s launch further cements its role as a gathering spot for Bitcoiners and high-profile guests alike.