- Howard Lutnick, CEO of Cantor Fitzgerald, strongly supports Bitcoin (BTC) and Tether (USDT).
- Lutnick values Bitcoin’s decentralization and Cantor Fitzgerald’s role as a custodian for Tether.
In a recent interview with CNBC’s Money Movers podcast, Howard Lutnick, the CEO of the prominent Wall Street brokerage firm Cantor Fitzgerald, openly revealed his strong favouritism for two cryptocurrencies: Bitcoin (BTC) and Tether (USDT). During the interview, he provided insights into his views on the crypto market.
Lutnick’s admiration for Bitcoin primarily stems from its decentralized nature, which he considers a unique and valuable feature. He emphasized his support for Bitcoin, stating:
“I AM A FAN OF CRYPTO, BUT LET ME BE VERY SPECIFIC, BITCOIN, JUST BITCOIN. THESE OTHER COINS, THEY ARE JUST NOT A THING.”
For Lutnick, Bitcoin’s ability to remain decentralized and beyond the control of any single entity sets it apart from other cryptocurrencies. He highlighted Bitcoin as the only asset where “no one could take it” due to its decentralized structure.
In a surprising revelation, Lutnick also expressed his enthusiasm for Tether, a stablecoin. He underscored Cantor Fitzgerald’s significant role as one of the custodians responsible for holding Tether’s substantial treasury. Lutnick stated:
“I’M A BIG FAN OF THIS STABLECOIN CALLED TETHER…I HOLD THEIR TREASURIES. SO I KEEP THEIR TREASURIES, AND THEY HAVE A LOT OF TREASURIES.”
Ethereum’s Contrasting Dynamics
Lutnick contrasted Bitcoin’s decentralization with Ethereum, highlighting differences in control and security aspects. He referenced Tether’s ability to freeze assets, alluding to recent wallet freezes related to sanctions. Additionally, he mentioned Ethereum co-founder Joe Lubin in the context of Ethereum’s perceived centralization. Lubin has denied having significant control over Ethereum’s supply.
Lutnick’s views carry significance, given his position as the CEO of a major Wall Street firm. His strong support for Bitcoin and Tether may influence market perceptions, particularly regarding the security and decentralization aspects of cryptocurrencies. As the crypto market continues to evolve, insights from industry leaders like Lutnick provide valuable perspectives on the future direction of digital assets and their role within the broader financial ecosystem.
