PANews reported on November 12 that according to Fox Business reporter Eleanor Terrett, Trump's nominee for Treasury Secretary, billionaire hedge fund manager Scott Bessent, is very supportive of cryptocurrencies, especially Bitcoin. Some of his recent remarks include: "I am excited by the president's support for cryptocurrencies, and I think it fits in well with the Republican Party. Cryptocurrencies represent freedom, and the crypto economy will continue to exist." "I think all the possibilities of Bitcoin are worth exploring. One of the most exciting things about Bitcoin is that it attracts young people and those who have never participated in the market before. Cultivating a market culture in the United States that makes people believe that there is a system that serves them is the core of capitalism."