A surprise appearance by US Treasury Secretary Scott Bessent at the opening of a Bitcoin-themed bar in Washington, DC, has drawn sharp attention from both crypto supporters and cautious observers.
According to reports, Bessent stopped by Pubkey during its launch event, a move that many in the Bitcoin community read as a visible sign of warmer relations between parts of government and the crypto sector.
Pubkey Visit Raises Eyebrows And Cheers
Pubkey, a venue that bills itself as Bitcoin-friendly, has grown from a New York outpost into a small chain. Reports have disclosed that the New York location once hosted US President Donald Trump, who reportedly paid in Bitcoin during a previous visit.
The Washington opening, where Bessent appeared unannounced, triggered a flurry of online reaction. Some community figures called the moment historic. Others urged caution, saying public appearances do not automatically translate into policy shifts.
Policy Signals And Concrete Talk
Based on reports, Bessent has been public about ideas that place Bitcoin on the government agenda. He has spoken about the GENIUS Act and has discussed ways the Treasury could use seized Bitcoin to seed a Strategic Bitcoin Reserve in a budget-neutral manner.
In an interview dated March 7, 2025, he suggested the Treasury was exploring options that would avoid immediate sales of seized crypto and instead look for ways to keep BTC on the books. That shift in tone is being watched closely by traders and policy watchers alike.
Community Reaction Was Fast
Ben Werkman, a crypto fund CIO, said the event felt like a “moment” for the industry. Another industry figure, Steven Lubka, called it the sign many had been waiting for.
At the same time, analysts warned about reading too much into a single photo op. One trader noted that market moves are driven by many forces, and that symbolic gestures often take time to matter for prices. Short-term traders may ignore signals like this, while longer-term holders may file them away.
If the Treasury takes steps to pause sales of seized BTC and to test ways of holding coins, the move could change how institutional players view the asset class.
But reports also remind readers that policy ideas meet legal and budget tests before they become real. Lawmakers and regulators will have to weigh the proposal. The public nature of Bessent’s visit, though, makes the discussion harder to treat as private or theoretical.
A Moment, Not A Promise
The image of a cabinet official mingling at a Bitcoin bar is powerful. It gives the community talking points. Yet, officials and experts say more formal steps are required before the visit becomes policy.
For now, the appearance stands as a public sign of interest, backed by statements and proposals that are still in play. Bitcoin’s supporters will note the visibility. Critics will watch for the paperwork.
Photo illustration by Slate. Photos by [email protected]/Flickr and Wavebreakmedia/iStock/Getty Images Plus, chart from TradingView
