Howard Lutnick of Cantor Fitzgerald: Bitcoin’s Unique Appeal and Tether Support
Cantor Fitzgerald CEO Howard Lutnick expressed his endorsement for Bitcoin and Tether while dismissing other cryptocurrencies as “make believe.”
In a CNBC Money Movers podcast, Lutnick emphasized his enthusiasm for Bitcoin, specifically mentioning the Bitcoin halving mechanism and the potential approval of a spot Bitcoin ETF. He highlighted Bitcoin’s unique inflation control through halving, occurring approximately every four years. Lutnick acknowledged concerns about economic deficits and positioned Bitcoin as a speculative asset, drawing a parallel with Tesla stock.
He also voiced strong support for Tether, stating that Cantor Fitzgerald holds Tether’s treasuries, which exceed $90 billion. Contrasting Jamie Dimon’s call to “close down” crypto, Lutnick argued that Bitcoin’s uncontrollable nature poses challenges, particularly regarding potential use by Russian oligarchs. Additionally, he claimed Tether and Ethereum are centralized, subject to freezing upon authorities’ request, unlike Bitcoin. Lutnick’s insights provide a nuanced perspective on the evolving landscape of cryptocurrency.
Clever Robot News Desk 15th December 2023
