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Cantor Fitzgerald CEO Howard Lutnick has called for Bitcoin to be classified as a commodity, comparing it to assets like gold and oil. During a September 27 interview on Fox Business’s “Mornings with Maria,” Lutnick emphasized that Bitcoin’s status as a commodity is well-established and urged for clearer regulations surrounding the cryptocurrency space.
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Lutnick stated, “Bitcoin is a commodity. It should be treated like gold and like oil. It’s just a commodity,” and expressed his belief that commodities and equities could potentially merge in the long term, possibly over the next 20 years. He voiced concerns about regulators’ lack of understanding regarding Bitcoin and digital assets, stressing the importance of getting the regulatory framework right.
This advocacy comes as Cantor Fitzgerald continues to expand its presence in the Bitcoin space. In July 2024, Lutnick announced a $2 billion Bitcoin lending program aimed at offering leverage to Bitcoin holders. The initiative marks the firm’s integration of Bitcoin into traditional financial markets.
In a related political development, Lutnick was appointed to co-lead former U.S. President Donald Trump’s transition team if he wins the 2024 election. His inclusion in the team has been seen as significant for the crypto industry due to his bullish stance on digital assets.
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