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Bitcoin Will Revolutionize Traditional Finance, According to Cantor Fitzgerald CEO

Bitcoin Will Revolutionize Traditional Finance, According to Cantor Fitzgerald CEO

CryptodnesCryptodnes2024/09/05 09:48
By:Cryptodnes

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.

READ MORE:
Bitcoin Surpasses Ethereum in Risk-Adjusted Performance for the First Time Since July 2022

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.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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