**US Treasury Secretary Scott Bessent Highlights Bitcoin’s Reliability on 17th Anniversary of Whitepaper**
On November 1, US Treasury Secretary Scott Bessent made waves on X by posting about Bitcoin’s impressive reliability over the last 17 years. Marking the anniversary of the Bitcoin Whitepaper, Bessent remarked on the resilience of the flagship cryptocurrency, emphasizing that “17 years after the white paper, the Bitcoin network is still operational and more resilient than ever. Bitcoin never shuts down.” He also called on Senate Democrats to take note of this remarkable feat.
### Charles Hoskinson Reacts with Amusement
Charles Hoskinson, the founder of Cardano, expressed surprise and amusement at Bessent’s pro-Bitcoin stance, especially coming from an elected official. In his reaction to the X post, Hoskinson described the moment as “profoundly magical,” highlighting how this signals a significant shift from the region’s previously skeptical or anti-Bitcoin stance.
He further credited the pro-crypto administration under former President Donald Trump for paving the way toward this change. Hoskinson remarked that Bessent’s statement reflects growing mainstream acceptance and institutional adoption of Bitcoin, the first-ever digital asset.
### Growing Institutional and Governmental Adoption of Bitcoin
Bitcoin’s adoption continues to expand beyond just enthusiasts and investors. Over recent months, multiple institutions and countries have begun incorporating Bitcoin into their strategic reserves, underscoring the asset’s legitimacy and growing importance on a global scale.
### France Proposes Bitcoin Strategic Reserve Bill
In a notable development, France is moving toward becoming the first European country to establish a Bitcoin Strategic Reserve. Just before October ended, Eric Ciotti, President of the Union of the Right and Centre (UDR), introduced a bill in the French National Assembly proposing the acquisition of 2% of the total BTC supply.
This equates to approximately 420,000 BTC, planned to be acquired over 7–8 years as a measure to protect France’s financial sovereignty. Gregory Raymond, co-founder of Big Whale, acknowledged that this is the first time such a comprehensive Bitcoin reserve bill has been proposed in France, marking a significant milestone.
### Bitcoin Price Update
Despite these positive developments, Bitcoin’s price remains relatively stable, hovering around $110,000. Notably, this marks the first time in seven years that Bitcoin is closing the tenth month of the year (October) in the red, despite the popularly termed “Uptober” rally.
At the time of writing, CoinMarketCap data shows Bitcoin trading at approximately $109,992.59.
—
*Disclaimer: Coinspeaker is committed to unbiased and transparent reporting. This article aims to provide accurate and timely information but should not be considered financial or investment advice. Market conditions can change rapidly. We encourage readers to verify information independently and consult professionals before making any financial decisions.*
https://bitcoinethereumnews.com/bitcoin/charles-hoskinson-reacts-to-scott-bessents-bitcoin-post/?utm_source=rss&utm_medium=rss&utm_campaign=charles-hoskinson-reacts-to-scott-bessents-bitcoin-post
Be First to Comment