Here’s What Trump’s Treasury Secretary Thinks About Bitcoin – DL News

Donald Trump has chosen Scott Besent to be his new Treasury Secretary – a man who sees cryptocurrencies as a natural fit for free markets and economic freedom.

Bessent, a veteran hedge fund manager and Trump confidant advisorSupport the President-elect’s vision for digital assets.

This vision would likely include a national bitcoin reserve and a presidential advisory council on cryptocurrencies.

In July interviewHe praised Trump’s pro-crypto stance while targeting Democrats’ approach to the industry.

“They are willing to take on the entire industry over the bad behavior of one actor,” Besant said, referring to the fallout from Sam Bankman-Fried’s donations to Democratic causes.

“Cryptocurrencies are about freedom, and the cryptocurrency economy is here to stay,” he added.

He highlighted Bitcoin’s ability to attract young investors and those who became disillusioned with traditional markets after the 2008 financial crisis.

“Having a market culture in the United States where people believe in a system that works for them is what capitalism is all about,” he said.

Bescent built a reputation as one of Wall Street’s top strategists, earning Trump’s trust through his support of policies such as tax cuts and deregulation.

While previously to caution Regarding cryptocurrencies, his recent statements show alignment with Trump’s efforts to make the United States a global leader in the field.

If confirmed, Besant will oversee major economic issues, including extending Trump-era tax cuts and managing federal affairs. religionwhile shaping the role of cryptocurrencies in national politics.

Crypto market drivers

• Bitcoin fell 0.3% over the past 24 hours to $98,606.
• Ethereum price rose 0.6% over the past 24 hours to $3,360.

What we read

Kyle Bird is the weekend editor for DL ​​News. Got a tip? Email at kbaird@dlnews.com.