Cantor Fitzgerald Launches $2 Billion Bitcoin Financing Initiative
Cantor Fitzgerald LP is set to venture into the Bitcoin financing sector, providing leverage to cryptocurrency investors.
The investment bank has announced plans to allocate $2 billion to this new business, the company said in a recent press release.
The initiative was revealed by Cantor Chairman and CEO Howard Lutnick at a Bitcoin conference in Nashville, Tennessee.
Lutnick Compares Bitcoin to Gold
During his speech, Lutnick emphasized the firm’s commitment to facilitating global Bitcoin trade, likening the cryptocurrency’s potential to that of gold.
“My view is Bitcoin, like gold, should be free to trade everywhere in the world and as the largest wholesaler in the world we are going to do everything in our power to make it so,” Lutnick said.
Lutnick added that as the largest wholesaler globally, they will do everything in their power to “support Bitcoin’s free trade.”
He also mentioned that Cantor already holds a substantial amount of Bitcoin.
Cantor’s new business will collaborate with selected Bitcoin custodians, though specific partners and a launch timeline were not disclosed.
Lutnick highlighted that once the initial $2 billion is utilized, Cantor plans to increase its allocation in additional $2 billion increments to sustain the business.
The conference also featured Republican presidential candidate Donald Trump, who was expected to outline a plan for the US government to amass a significant Bitcoin reserve, according to his opponent, Robert F. Kennedy Jr.
This proposal, if confirmed, could become a key aspect of Trump’s appeal to the crypto industry.
In addition to its new Bitcoin financing business, Cantor serves as a custodian for Tether Holdings Ltd., the issuer of the USDT stablecoin, which has about $114 billion in circulation.
The firm has also secured substantial financing for digital asset companies, including cryptocurrency miners Bitdeer, TeraWulf, Riot Platforms, and Cipher Mining. $BTC #Bitcoin_Coneference_2024
