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Howard Lutnick, CEO of Cantor Fitzgerald, a company that has been in financial services for nearly a century, touched on the importance of Bitcoin in a podcast he participated in. Touching on a range of issues from stablecoins to the US government debt, Lutnick claimed that Bitcoin is not money.
The famous businessman, who was a guest on Anthony Pompliano’s YouTube channel, said he owns millions of dollars worth of Bitcoin and tries to buy at every dip. Lutnick’s statements are as follows:
“We will cut waste with Elon Musk”
Me, Elon Musk and Donald Trump can handle the deficit. I discussed this issue with Alvin for 2 hours. We talked about reducing waste in a $6.5 trillion budget. 4.5 trillion in revenue. Everything including taxes… I think we are going to hell. The debt will be 36 trillion dollars. Look, in the Trump administration, competent people in the United States will take the field. Everyone will do what they are good at. Making America Great Again won’t just be lip service.
“Bitcoin is not a currency, it’s a commodity…”
I have said it before. Bitcoin is not money. Bitcoin is a commodity like gold and oil. Even when you think of terms like mining and gas fees, you can understand that it is a commodity. Look, you can sell oil to whoever you want. You can mine gold and sell it to whoever you want. The same goes for bitcoin… if you call bitcoin money, politicians will see it as an attack on their country’s currency. But if it is an item, they will allow it. It will grow as you let it. Bitcoin will go up a lot. Just believe…
“Stablecoin technology is very smart…”
Fixed currencies are very important to this world… if you go to Argentina you have to open a peso account… if you go to Europe it’s Euros… but fixed currencies allow you to use your dollars. Give right. Accounts worldwide. This is very clever. That’s why I also like stablecoins.
“I have millions of dollars worth of bitcoins”
If you look at my holdings in companies, I have billions of dollars. This is already public information. I have millions of dollars in Bitcoin. Of course it will be billions of dollars. I always say that whenever Bitcoin falls I buy. Cantor Fitzgerald will already be a supporting company for bitcoin’s entry into traditional finance. “Bitcoin will grow even more as it gains more acceptance.”
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