US President-elect Donald Trump is reportedly considering billionaire hedge fund investor Scott Bessent for the Treasury Secretary post, according to sources close to the administration.
Known for his positive stance on cryptocurrencies, Bessent could become a key figure in shaping U.S. fiscal policy, especially in the fast-growing digital asset space. This follows John Paulson’s decision to withdraw from consideration due to the complexity of his personal financial matters.
Bessent, who has previously described cryptocurrencies as “about freedom,” sees Bitcoin as a tool to attract younger investors and engage a broader demographic in financial markets. His belief that Bitcoin could help “develop a market culture in the U.S.” aligns with his vision of capitalism where citizens feel empowered by a financial system designed to serve them.
Prominent cryptocurrency journalist Eleanor Terrett weighed in on Bessent’s potential appointment, noting his strong support for the crypto economy, particularly Bitcoin. Terrett quoted Bessent as saying, “I’m thrilled that the president has embraced crypto and I think it’s a great fit for the Republican Party… the crypto economy is here to stay.”
*This is not investment advice.