Howard Lutnick of Cantor Fitzgerald Says Bitcoin Should Be Treated Like a Commodity Such as Gold and Oil

In an appearance on the Morning with Maria show, Lutnick argued that Bitcoin, the largest cryptocurrency by market cap, is a commodity.

Howard Lutnick, the CEO of Cantor Fitzgerald, believes that Bitcoin should be classified as a commodity, similar to gold and oil.

During an appearance on the Morning with Maria show, Lutnick argued that Bitcoin, the largest cryptocurrency by market capitalization, is a commodity. He went on to say that people should treat the leading digital asset like one of the top two natural resources: gold and oil.

Lutnick's statement highlights the ongoing debate over the nature of Bitcoin and other cryptocurrencies. While some regulators and institutions have classified digital assets as securities, others, including Lutnick and SEC Chair Gary Gensler, believe that Bitcoin is more akin to a commodity.

Commodity status would have significant implications for the regulation and treatment of Bitcoin. Commodities are typically subject to less stringent regulation than securities, which could benefit the cryptocurrency industry.

Lutnick also touched on the impact of regulation on Bitcoin's adoption. He expressed his belief that the failure of regulators to recognize the potential of Bitcoin and crypto has hindered the sector's growth.

Despite being a proponent of Bitcoin, Lutnick has also criticized the cryptocurrency's volatility, comparing it to "digital heroin." However, he remains bullish on Bitcoin in the long term, having previously announced plans for Cantor Fitzgerald to launch a Bitcoin lending program.

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