Elon Musk endorses Howard Lutnick for Treasury Secretary, urging Trump to consider change.
Scott Bessent remains a top contender, with his pro-crypto stance boosting Bitcoin prices.
Trump’s decision between Lutnick and Bessent could impact U.S. economic policies.
Elon Musk has publicly endorsed Howard Lutnick, the CEO of Cantor Fitzgerald, as the leading candidate for U.S. Treasury Secretary in Donald Trump’s upcoming administration. Musk’s support comes amid growing speculation over Trump's potential pick, which could significantly influence the country’s economic direction.
In a post on his social media platform X, Musk emphasized that Lutnick’s approach would bring the necessary change to address the nation’s pressing financial issues. He highlighted Lutnick’s experience and unconventional strategies as key factors that could drive reforms.
Musk contrasted Lutnick with another strong contender, Scott Bessent, labeling him a “business-as-usual” choice.
Elon Musk encouraged the public to weigh in on Trump's decision, suggesting that broader feedback could help shape the future Treasury Secretary’s priorities.
According to Musk, selecting a candidate like Lutnick aligns with the public’s demand for a fresh economic approach, especially in light of recent financial challenges.
Meanwhile, Scott Bessent, founder of Key Square Group, remains a formidable competitor. Bessent’s reputation for financial market expertise and his pro-crypto stance have strengthened his position.
Reports indicate that his odds of securing the nomination have soared to 87%, driving positive sentiment in the crypto market.
Howard Lutnick’s role as a member of the Trump economic transition team has already made waves. His advocacy for economic protectionism, including support for tariffs and domestic manufacturing, has drawn praise and criticism.
Lutnick’s stance is viewed as disrupting traditional economic practices, appealing to those seeking a bold shift in policy.
https://twitter.com/chrispavlovski/status/1857821580614619347
Adding to the debate, Rumble CEO Chris Pavlovski lauded Lutnick’s efforts in making the online video platform public and his commitment to free speech. This endorsement and Musk’s backing have bolstered Lutnick’s candidacy further.
However, Bessent’s experience with global markets positions him as a stable, market-friendly choice. If he secures the Treasury role, his support for cryptocurrencies and blockchain technology could usher in a new era of financial innovation.
