Cantor Fitzgerald CEO Howard Lutnick declared himself a “fan” of: Bitcoin And stablecoin ropeDismisses other cryptocurrencies as “make believers”.
speaking CNBC“I’m a fan of cryptocurrencies,” the Wall Street broker’s CEO said on the Money Movers podcast. But let’s be very specific. Bitcoin. “It’s just Bitcoin,” he said, adding that he was optimistic about Bitcoin halving and the possibility of a halving. Bitcoin ETF approval.
“Every four years, Bitcoin doubles the price of what you have to do to get a coin,” Lutnick said. “And if you look at the history of Bitcoin, every time there’s a doubling, it’s been a good thing. So it’s combined with the American ETF concept, right?”
that more or less Here’s how it works. Halving is essentially a mechanism to curb Bitcoin inflation. Approximately every four years, the protocol halves Bitcoin rewards to miners, limiting the amount of new coins entering the market.
There are only 21 million Bitcoins mined. At the current rate at which miners operate, the next halving is expected to occur around April, with the reward for each block processed by miners being cut from 6.25 BTC to 3.125 BTC.
“I think there are a lot of people who are worried about the fact that because of the halving and the way the world works these days, we’re running into a $2 trillion deficit,” Lutnick said on the podcast.
But he said he views Bitcoin as “simply speculative,” comparing it to Tesla stock. “It’s just something to trade for,” he said. “Why Tesla, Tesla? The answer is because if everyone buys it, it goes up.”
Lutnick also said he is a “big fan” of Tether. stablecoin, adding that Cantor Fitzgerald holds Tether’s treasury. “I hold their treasury. They have a lot of treasury, which is now over $90 billion,” he said.
In response to JP Morgan CEO Jamie Dimon’s recent comments that the U.S. government should shut down cryptocurrencies, Rutnick claimed that cryptocurrencies are “out of control” and added, “Russian oligarchs who are afraid of President Putin could be using Bitcoin.” “He added. ” Deport their funds out of the country.
Lutnick said Tether (and he claimed: Ethereum) is centralized and funds may be frozen at the request of authorities. “The Department of Justice calls Tether and freezes it. Because I have someone to call. “There is no one to ask questions about Bitcoin. So Bitcoin is a strange thing. But only Bitcoin is strange. Ethereum, just call Joe Lubin.”
Lubin previously said that he and his company, ConsenSys (an investor) decryption) has never controlled “close to 0.5%” of Ethereum’s total supply.
Editor Guillermo Jimenez
