Helen Partz
12 Nov 2024
As Scott Bessent and John Paulson emerge as leading candidates for US Treasury Secretary, the community is curious about their stance on crypto.
Scott Bessent, one of the leading candidates for United States Treasury Secretary in President-elect Donald Trump’s incoming administration, has a friendly stance on cryptocurrencies like Bitcoin.
Bessent, founder of Key Square Group and former Soros Fund Management investing chief, is “very pro-crypto,” Fox Business journalist Eleanor Terrett said in a Nov. 11 X post.
“Trump’s leading pick for Treasury Secretary — billionaire hedge fund investor Scott Bessent — is very pro-crypto, particularly pro-Bitcoin,” Terrett wrote, citing a couple of Bessent’s statements on the industry.
“Crypto is about freedom, and the crypto economy is here to stay”
According to Terrett, Bessent delivered a number of pro-crypto statements recently, expressing his positive stance on cryptocurrencies, which aligns with Trump’s ambitious promise to make the US the “crypto capital of the planet.”
In one of the recent crypto-related statements, Bessent said:
“I have been excited about the president’s embrace of crypto and I think it fits very well with the Republican Party, crypto is about freedom, and the crypto economy is here to stay.”
Bessent also spoke in favor of Bitcoin BTC$87,212, highlighting its power to bring young newcomers to financial markets. He stated:
“One of the most exciting things about Bitcoin is that it brings in young people and those who have not participated in markets before. Cultivating a market culture in the US, where people believe in a system that works for them, is the centerpiece of capitalism.”