Bitcoin should be treated as a commodity like gold: Cantor Fitzgerald CEO
On September 27, Howard Lutnick, CEO of financial firm Cantor Fitzgerald, appeared on Fox Business and urged regulators to classify Bitcoin as a commodity, similar to gold and oil.
In an interview on “Morning with Maria,” Lutnick noted that Bitcoin (BTC)'s status as a commodity is well-established and called for more transparency in the cryptocurrency space.
“Bitcoin is a commodity. It should be treated like gold and oil. It's just a commodity.”
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Bitcoin as a commodity
Asked Maria Lutnick, “Commodities and other tradables” Cantor Fitzgerald's exchange follows the same rules as we see in stocks.
Lutnick noted that he believes commodities and stocks will converge over the long term, “probably more than 20 years.”
The CEO is concerned that regulators are failing to recognize the importance of BTC and the broader digital asset industry.
“Let's face it: they don't even know how crypto and digital work, and they have no idea. They still don't understand how important it is to edit properly.
Related: Cantor Fitzgerald Announces $2B Bitcoin Finance Business
Cantor Fitzgerald's $2 billion BTC loan program
In the year On July 27, Lutnick announced the launch of a BTC loan program at the Bitcoin 2024 conference, offering it to “those who own Bitcoin.”
The CEO of the financial service said that it will start with a “$2 billion loan” through a “Bitcoin financing business”.
In his closing statement at the conference, Lutnick said that the company welcomes “Bitcoin to the global financial market funding family.”
Related: 11 Bitcoin Miners That May Not Be Profitable Half a Post – Cantor Fitzgerald
Lutnick to lead Trump's transition team
In the year In an August 16 statement, former US President Donald Trump's campaign team said Lutnick would lead the Republican nominee's transition team if he wins the US election in November.
Alongside World Wrestling Entertainment founder Linda McMahon, Lutnick will oversee the organization of policies and personnel management within the transition team.
Alex Grieve, Paradigm's head of government affairs, said in an Aug. 16 X Post that Lutnick's inclusion in the group is “huge for crypto” because Cantor Fitzgerald's CEO is a “big crypto bull.”
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