Originally published on: September 28, 2024
During a recent appearance on Fox Business, Cantor Fitzgerald CEO, Howard Lutnick, made a compelling argument for Bitcoin being classified as a commodity, much like gold or oil. Lutnick emphasized the need for regulators to provide clearer guidelines for the cryptocurrency industry.
In a segment on Mornings with Maria, Lutnick expressed his belief that Bitcoin’s status as a commodity is indisputable, citing its similarities to traditional commodities like gold. He called for streamlined regulations and highlighted the importance of authorities recognizing the significance of Bitcoin and other digital assets.
When questioned by Maria about potential regulations for commodities trading on Cantor Fitzgerald’s exchange, Lutnick predicted a gradual merging of commodities and equities over the next two decades. He stressed the urgency of regulators understanding and adapting to the evolving landscape of digital currencies.
Lutnick’s push for Bitcoin to be recognized as a commodity aligns with Cantor Fitzgerald’s recent initiatives in the cryptocurrency space. The firm recently announced a $2 billion Bitcoin lending program, aimed at providing leverage to Bitcoin owners. Lutnick, who unveiled the program at the Bitcoin 2024 conference, emphasized Cantor Fitzgerald’s commitment to integrating Bitcoin into the global financial market.
Additionally, Lutnick’s involvement in Donald Trump’s presidential campaign transition team underscores his influence in the crypto world. As a vocal supporter of cryptocurrencies, Lutnick’s inclusion in the team is seen as a significant development for the industry.
Join the conversation on Bitcoin’s future as a commodity and the growing influence of Cantor Fitzgerald CEO, Howard Lutnick, in shaping the financial landscape. Bitcoin’s journey to becoming the new gold is just beginning.
