Bitcoin should be treated as a commodity, like gold: Cantor Fitzgerald CEO

On Sept. 27, Howard Lutnick, nan CEO of financial Cantor Fitzgerald, appeared connected Fox Business and urged regulators to categorize Bitcoin arsenic a commodity, akin to golden and oil.

In nan “Mornings pinch Maria” interview, Lutnick stated that Bitcoin’s (BTC) position arsenic a commodity is well-established and called for clearer regularisation of nan cryptocurrency space.

“Bitcoin is simply a commodity. It should beryllium treated for illustration golden and for illustration oil. It’s conscionable a commodity.”

Related: Cantor Fitzgerald CEO to co-lead Trump modulation team

Bitcoin arsenic a commodity

Maria asked Lutnick whether he believed “commodities and different things that are traded on” Cantor Fitzgerald’s speech would spot akin regulations arsenic we spot successful equities

Lutnick expressed that he believes commodities and equities will merge complete a agelong play of time, “over possibly 20 years.”

The CEO emphasized his interest complete regulators’ inability to grasp nan value of BTC and nan broader integer plus industry.

“Let’s look it: they don’t moreover cognize really to do crypto and integer astatine all, and they person nary idea; they still don’t understand really important it is to get it right.” 

Related: Cantor Fitzgerald announces $2B Bitcoin financing business

Cantor Fitzgerald’s $2 cardinal BTC lending program

On July 27, Lutnick announced nan motorboat of a BTC lending program astatine nan Bitcoin 2024 conference, offering “leverage to those who ain Bitcoin.”

The financial services firm’s CEO said it would motorboat “with $2 cardinal of lending” done its “Bitcoin financing business.”

In his closing connection astatine nan conference, Lutnick said nan patient would invited “Bitcoin into nan financing family of nan world financial market.”

Related: 11 Bitcoin miners whitethorn not excavation profitably station halving — Cantor Fitzgerald

Lutnick to co-lead Trump modulation team

In an Aug. 16 statement, erstwhile United States President Donald Trump’s run squad said that Lutnick would co-lead nan Republic nominee’s modulation team if he wins nan US elections successful November.

Alongside World Wrestling Entertainment co-founder Linda McMahon, Lutnick will oversee nan statement of policies and unit guidance wrong nan modulation team.

Alex Grieve, Paradigm’s authorities affairs lead, stated successful an Aug. 16 X post that Lutnick’s inclusion successful nan squad is “huge for crypto” because nan Cantor Fitzgerald CEO is “a large crypto bull.”

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