Treasury Secretary Scott Bessent Makes Surprise Visit to New Bitcoin Bar in Washington

The U.S. Treasury Secretary Scott Bessent appeared without prior notice at the opening of Pubkey DC, a new Bitcoin-themed bar in the nation’s capital. The event drew a mix of traders, policy watchers, and long-time advocates. They viewed his presence as an encouraging signal during a tense period for the market.

Ben Werkman, chief investment officer at Strive, wrote on X that the moment felt like one that people may look back on as a clear turning point. Steven Lubka, an executive at Nakamoto, also called the appearance “the sign you have been waiting for.”

Bessent Recieves Warm Reaction From Bitcoin Supporters

Bessent has developed a reputation as friendly toward digital assets since his nomination late last year. During that period, he suggested that the United States should plan to become a global center for the sector and showed openness toward crypto bills, like the GENIUS Act.

His visit to the new bar sparked strong reactions from familiar names in the community. Analyst Fred Krueger, Gemini executive Jeff Tiller, and Bitcoin Policy Institute co-founder David Zell, all described the moment as encouraging for the Bitcoin future.

Bessent has even said that his department has been reviewing ways to acquire Bitcoin for the Strategic Bitcoin Reserve without altering overall budget levels. Because of this, some traders linked his stop at the venue to the token’s recent slide. 

MacroScope, a trader active on X, noted that during choppy periods “signals like this don’t matter much.” However, he argued that traders often look back and reconsider their importance.

Visit Arrives During Market Weakness

The timing of Bessent’s appearance added to the discussion. Bitcoin has struggled since touching a record high of $125,100 on Oct. 5. At the time of writing, it is trading around $85,500. 

Social data from Santiment’s Sanbase platform showed that online debate on Thursday was sharply divided, with many expecting a drop into the $20,000–$70,000 range while others anticipated a rebound into six-figure territory.

Pubkey DC arrives after attention around its New York counterpart, which opened in late 2022 and quickly drew media interest. The original location gained national headlines in September 2024 when then-presidential candidate Donald Trump stopped by during a campaign trip.

Bessent’s unplanned visit added fresh attention to the new venue and sparked discussion about whether it may hint at shifting attitudes within Washington during a turbulent stretch for the market.