Howard Lutnick, CEO of Cantor Fitzgerald, has endorsed Donald Trump as the best candidate for America's wealthy, praising his commitment to American workers, economic growth, and support for cryptocurrency alongside tariff implementation.
In a podcast with Anthony Pompliano, Lutnick argued that Trump’s “America First” policy led to 3% GDP growth and wage increases during his presidency, with tariffs protecting jobs and boosting domestic manufacturing. He criticized Democratic policies like the American Rescue Plan for over-incentivizing the economy, resulting in inflation that harms the middle and working classes while benefiting the rich.
Lutnick believes that Trump’s focus on tariffs is crucial for protecting American prosperity, suggesting that if taxes are necessary, they should target foreign producers instead of American citizens. He emphasized the historical success of tariffs in generating public investment without burdening the populace.
Regarding Bitcoin, Lutnick advocates for viewing it as a commodity, akin to gold or oil, which aligns with Trump’s economic vision and could lead to increased wealth for Americans. He anticipates that greater institutional acceptance of Bitcoin will enhance its value.
Reports indicate that Trump’s potential victory in the 2024 election could trigger a Bitcoin price surge, possibly reaching $92,000. Lutnick sees Trump’s protectionist policies and Bitcoin’s nature as non-governmental commodities as avenues for increasing prosperity in the U.S.
According to new data shared by Bitcoin Magazine Pro, publicly traded companies now collectively hold over 844,822 BTC, valued at more than $100.5 billion, marking a historic milestone for institutional Bitcoin adoption.
Trump Media and Technology Group, the parent company of Truth Social, Truth+, and Truth.Fi, has officially disclosed that it now holds approximately $2 billion in Bitcoin and Bitcoin-related securities.
Michael Saylor’s Strategy has confirmed another major Bitcoin purchase, acquiring 6,220 BTC last week for approximately $739.8 million.
Bitcoin’s derivatives market is heating up, with open interest climbing back to $42 billion while funding rates continue to surge.