Cantor Fitzgerald CEO Howard Lutnick has outlined his vision for Bitcoin's role in traditional finance, emphasizing its potential to become a key financial asset.
Lutnick acknowledged that while Bitcoin is gaining traction through financial products like ETFs, banks are still limited by regulatory barriers that prevent them from fully engaging with Bitcoin.
Currently, banks are unable to clear, transact, or hold Bitcoin due to regulations requiring them to reserve equivalent capital, which Lutnick likened to being “in a jail.”
He remains hopeful that regulatory changes will eventually allow banks and financial services to fully adopt Bitcoin, predicting its value will rise once recognized as an economic asset by authorities like the CFTC.
At Bitcoin 2024, Cantor Fitzgerald announced plans for a $2 billion Bitcoin lending business, expanding as demand grows. This initiative reflects the firm’s commitment to strengthening the Bitcoin ecosystem and supporting digital asset growth.
Lutnick views Bitcoin as a significant asset comparable to gold and anticipates its integration into mainstream finance will continue to progress. He believes that as regulations evolve, Bitcoin will become a fundamental component of global finance, with Cantor Fitzgerald playing a leading role in this transition.
Bitcoin may be entering a typical summer correction phase, according to a July 25 report by crypto financial services firm Matrixport.
Bitcoin has dropped sharply to test its local range low near $115,000, with analysts pointing to renewed whale activity and long-dormant supply movements as key contributors to the decline.
Bitcoin has reached a critical milestone in its programmed supply timeline—only 5.25% of the total BTC that will ever exist remains to be mined.
Strategy the company formerly known as MicroStrategy, has announced the pricing of a new $2.47 billion capital raise through its initial public offering of Variable Rate Series A Perpetual Stretch Preferred Stock (STRC).