Key Highlights
- U.S. Treasury Secretary Scott Bessent said that Bitcoin is more resilient than ever, and it never shuts down
- His statement comes on the 17th Anniversary of Satoshi Nakamoto’s Bitcoin Whitepaper
- Scott Bessent has trolled Democrats, saying they could take lessons from Bitcoin’s rise
On October 31, Treasury Secretary Scott Bessent said that Bitcoin is now more resilient than ever and is still operational.
17 years after the white paper, the Bitcoin network is still operational and more resilient than ever. Bitcoin never shuts down.@SenateDems could learn something from that.
— Treasury Secretary Scott Bessent (@SecScottBessent) October 31, 2025
Treasury Secretary Scott Bessent’s statement comes on the 17th anniversary of the Bitcoin Whitepaper launch. In a satirical way, he targeted the opposition party, Democrats, saying, “They could learn something from that.”
Crypto Community Celebrates 17th Anniversary of Satoshi Nakamoto’s Bitcoin Whitepaper
17th years ago today, Satoshi Nakamoto first introduced a Bitcoin whitepaper. On October 31, 2008, amid the global financial crisis, its creator emailed a nine-page PDF titled “Bitcoin: Peer-to-Peer Electronic Cash System” to the cryptography mailing list. This unassuming launch proposed a decentralized digital currency using blockchain to solve double-spending without banks. Its genesis block followed in January 2009.
17th years later, the crypto community is now celebrating its meteoric rise. In the post on X, the user hailed it as “the spark of a financial revolution.”
In its seventeenth year of journey, Bitcoin remained vibrantly active. At present, its network has secured over $2.18 trillion in market capitalization at $109,577 per Bitcoin. Over each Bitcoin halving event, the community witnessed slashed supply, fueling scarcity.
Bitcoin Secures Role as Institutional Asset
Institutional investment in BTC has reached impressive levels in 2025, which is fundamentally transforming its status from a speculative digital currency to a recognized component of global finance.
Major financial firms, including BlackRock and Fidelity, have accumulated billions of dollars worth of BTC through exchange-traded funds (ETFs), with total assets in these vehicles surpassing billions of dollars.
A survey from Coinbase and Ernst & Young revealed that the vast majority of institutional investors now plan to increase their allocations to cryptocurrency. This growing acceptance is driven by BTC’s increasing price stability and growing market liquidity, which solidifies its reputation as a modern form of digital gold.
This remarkable institutional surge comes directly from decisive regulatory actions taken by governments worldwide. In the United States, the passage of landmark legislation, including the GENIUS Act and the CLARITY Act, has established clear federal rules for digital assets, explicitly classifying Bitcoin as a commodity.
These laws have streamlined the approval process for financial products and eliminated significant legal uncertainties that previously deterred major investors. Similar regulatory frameworks implemented in the European Union have further legitimized the asset class, contributing to a massive $2.2 trillion in capital inflows to North American markets.
Not just this, the new trend of Bitcoin Reserve has also attracted the attention of many countries. The United States introduced this strategic approach by formalizing a Strategic Bitcoin Reserve, consolidating approximately 200,000 seized Bitcoins under the oversight of the Treasury Department. This move establishes a digital asset reserve often compared to a modern Fort Knox.
After this, European nations are also quickly following this trend. France has proposed legislation to accumulate a major (around 2%) through various means, including state-backed mining activities. Germany’s second-largest political party has also submitted a formal proposal for the country to establish its own Bitcoin Reserve.
This Bitcoin Reserve trend shows a global race among nations to secure this scarce digital asset as a hedge against economic uncertainty.
Despite a negative market mood after a sharp fall in the crypto market, key underlying data for Bitcoin is telling a different story. The network is showing remarkable strength, with both investors and miners increasing their activity.
