‘Bitcoin Never Shuts Down’: U.S. Treasury Secretary Marks Anniversary, Needles Democrats

Scott Bessent marked the white paper’s anniversary by lauding bitcoin’s resilience and contrasting it with Washington gridlock, rekindling debate over Treasury’s crypto stance.

Updated Nov 1, 2025, 9:11 a.m. Published Nov 1, 2025, 9:04 a.m.

U.S. Treasury Secretary Scott Bessent marked the 17th anniversary of the Bitcoin white paper on Friday with a post on X praising the network’s resilience and adding a jab at Senate Democrats, saying the system “never shuts down” and implying lawmakers could “learn something from that.” The comment doubled as a policy signal and a partisan elbow.

Oct. 31 carries special weight in crypto. It is the date Satoshi Nakamoto released the nine-page Bitcoin white paper in 2008, the document that sketched a peer-to-peer electronic cash system and set the stage for a network that has run continuously since January 2009. Supporters use the anniversary to highlight bitcoin’s always-on design and its independence from any single operator.

Bessent’s note slots into a year of crypto-forward messaging from Treasury.

In July, following President Trump’s signature on the GENIUS Act, Bessent called stablecoins “a revolution in digital finance” and argued that an internet-native dollar rail could reinforce reserve-currency status while expanding access to dollar payments. Treasury published that statement on its website.

In August, Bessent said on X that bitcoin forfeited to the U.S. would seed a Strategic Bitcoin Reserve and that Treasury would explore budget-neutral ways to add more, signaling interest in building holdings without new appropriations.

Reaction to Friday’s post exposed familiar rifts inside crypto.

Long-time Bitcoin Core developer Luke Dashjr pushed back, saying bitcoin is “weaker than ever,” a nod to disputes over recent software releases and what they mean for network purity.

Researcher Eric Wall replied with sarcasm that “bitcoin died after the core v30 release,” poking at recurrent doom takes after upgrades.

Investor Simon Dixon reframed Bessent’s line as a critique of currency policy, arguing that bitcoin’s point is protection from political debasement.

Others pressed for policy action: trader Fred Krueger quipped that Treasury should buy for the Strategic Bitcoin Reserve, and digital-asset strategist Gabor Gurbacs urged putting bitcoin “on the balance sheet.”

The replies split roughly into two camps — technical purists contesting blanket claims of resilience, and market participants pressing Treasury to turn rhetoric into acquisition policy.

The political edge was sharpened by timing. The federal government has been in a partial shutdown since Oct. 1 after Congress missed fiscal 2026 appropriations, resulting in roughly 900,000 furloughs, about 2 million employees working without pay, and curtailed operations at agencies including the NIH and CDC. The episode is the 11th shutdown to curtail services and is described as the longest full shutdown on record.

Read narrowly, Bessent’s post saluted a network that runs on weekends and holidays. Read politically, it contrasted bitcoin’s uptime with a Congress stuck on funding bills — another sign that the Treasury chief intends to keep digital assets in the policy conversation on Washington’s busiest days.

Crypto Bank Custodia Suffers Another Court Rejection in Fed Master Account Pursuit

The 10th Circuit Court of Appeals ruled against Custodia nine months after hearing arguments in the company's effort to secure a Federal Reserve master account.