Cardano Founder Comments on U.S. Treasury Secretary’s Bitcoin Support
Charles Hoskinson, the founder of Cardano, expressed his curiosity about U.S. Treasury Secretary Scott Bessent’s recent support for Bitcoin. He shared his thoughts in a post on X on November 1, following Bessent’s acknowledgment of the 17-year anniversary of Bitcoin’s whitepaper.
On October 31, the Bitcoin community celebrated exactly 17 years since its creation, a milestone marked by Satoshi Nakamoto’s publication of the Bitcoin whitepaper. Bessent also took to X to commemorate the occasion, underscoring the cryptocurrency’s long-standing reliability.
“Seventeen years after the white paper, the Bitcoin network is still up and running and more resilient than ever. Bitcoin will never shut down,” Bessent stated, encouraging Senate Democrats to take note of this success.
Hoskinson quickly reacted, calling it “pretty magical” for a U.S. official to speak positively about Bitcoin’s dependability. This sentiment reflects a significant shift from earlier negative perceptions surrounding cryptocurrency in the U.S., which can, in part, be attributed to the pro-crypto stance of former President Donald Trump.
This shift indicates growing mainstream acceptance and adoption of Bitcoin. Recently, various institutions and countries have started incorporating Bitcoin into their strategic reserves.
In a notable move, just before the end of October, France proposed a bill to become the first European nation to establish a Bitcoin Strategic Reserve. The bill, introduced by UDR President Eric Ciotti, aims to acquire 2% of the Bitcoin supply, roughly 420,000 BTC, over the next seven to eight years to enhance France’s financial sovereignty.
Gregory Raymond, co-founder of Big Whale, acknowledged that this is the first comprehensive bill of its kind proposed in France.
Meanwhile, the price of Bitcoin has been hovering around $110,000 for an extended period, particularly during this “Uptober.” It’s noteworthy that this marks the first time in seven years that Bitcoin has finished October in the red. Currently, according to CoinMarketCap, Bitcoin is trading at approximately $109,992.59.
