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.
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.
Had to do a second buy today using my “it was so obvious” framework.
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”.
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.
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.
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.
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 vvelda@ymail.com/Flickr and Wavebreakmedia/iStock/Getty Images Plus, chart from TradingView
