Cantor Fitzgerald CEO Howard Lutnick, who is on the team of US presidential candidate Donald Trump, has made shocking statements about Bitcoin.
Lutnick claims that Bitcoin has a similar structure to commodity assets like gold and oil. The financial expert claims that Bitcoin should be classified as a commodity because of this similarity.
Appearing on Fox Business on September 27, Lutnick called on regulators to evaluate Bitcoin in the same category as gold.
The team of US presidential candidate Donald Trump has announced that Cantor Fitzgerald CEO Howard Lutnick has joined the team. The announcement, made on August 16, was hailed by the crypto community.
Paradigm’s director of government relations, Alex Grieve, commented on Lutnick’s inclusion on Trump’s team as a major step forward for crypto.
Speaking to Fox Business the other day, Lutnick said; “Let’s be honest, they don’t know how to manage cryptocurrencies and digital assets. They don’t know enough about it; they don’t understand the importance of proper management.”
Lutnick, who says “Bitcoin is just a commodity,” believes that the financial markets will change radically in the next 20 years. According to the financial expert, commodities and stocks will merge in the near future.
Lutnick, who claims that Bitcoin has established its position, has called for clearer regulation of the cryptocurrency space.
Lutnick’s company announced on July 27 that it had launched a $BTC lending program. Lutnick stated that the service would start with $2 billion in loans and would grow every day.
