Scott Bessent, considered a leading contender for U.S. Treasury Secretary in President-elect Donald Trump’s administration, is known for his supportive views on cryptocurrency, with a significant emphasis on Bitcoin. This information was shared by Fox Business journalist Eleanor Terrett, who has closely monitored Bessent’s comments on crypto.
Bessent is reportedly in favor of the industry, matching Trump’s pledge to transform the U.S. into a global hub for cryptocurrency. Showcasing his approval, Bessent has stated his admiration for Trump’s embracing of digital currencies and noted that cryptocurrencies symbolize freedom and are here to stay, which he believes complements Republicans’ values.
An advocate for youth involvement in the financial market, Bessent spoke positively of Bitcoin for its ability to attract younger and previously non-participatory individuals into the market. He echoed the sentiment that fostering a culture of successful investment is essential for a thriving capitalist society in the U.S.
Other candidates for the position of Treasury Secretary under Trump’s administration include investor John Paulson. Trump and Paulson, who is known for his skeptical views on crypto due to its volatility and lack of intrinsic value, had a meeting on Nov. 8 along with Bessent. Both Bessent and Paulson are financial contributors to Trump’s campaign and are seriously being considered for the position.
Despite Trump’s own past criticism of Bitcoin, he declared himself a pro-crypto candidate, thus leading to uncertainty regarding his prospective appointments. Additional high-ranking federal posts that need filling in Trump’s administration include various roles in the U.S. Securities and Exchange Commission. Daniel Gallagher, Hester Peirce, and Mark Uyeda make up the list of considered options for the chair of the SEC.