Howard Lutnick, CEO of the $13.2 billion financial services firm Cantor Fitzgerald, has revealed a substantial personal investment in Bitcoin, predicting its value will surge into the billions. In a recent podcast appearance, Lutnick disclosed his current exposure to Bitcoin is in the “hundreds and hundreds of millions of dollars,” and confidently stated, “It will be billions.”
While declining to reveal the exact figures for fear of divulging too much information about his holdings, Lutnick hinted at his substantial wealth, referencing his stake in public companies and Cantor Fitzgerald’s overall worth, both of which he implied are in the billions of dollars.
Lutnick envisions Cantor Fitzgerald playing a pivotal role in bridging the gap between Bitcoin and traditional finance, stating the firm “will be the sponsor of Bitcoin into traditional finance.” He anticipates other banks will follow suit once Cantor Fitzgerald demonstrates a successful model. He believes this increased acceptance will inevitably drive Bitcoin’s value higher.
Interestingly, Lutnick advocates for classifying Bitcoin as a commodity rather than a currency, suggesting this will mitigate political resistance. He argues that positioning Bitcoin alongside assets like gold and oil will reduce the perception of it as a threat to national currencies.
Lutnick’s bullish outlook on Bitcoin is underscored by his belief in its scarcity and inherent value. He anticipates its price will continue to fluctuate, but ultimately, he encourages a long-term perspective, advising investors to “just have faith.” He predicts Bitcoin will become increasingly “financeable,” similar to gold, further solidifying its position within the financial ecosystem. He concluded by reaffirming his conviction that Bitcoin will become “way, way, way higher” over time.
