Howard Lutinck, CEO of Cantor Fitzgerald, which has been operating in financial services for nearly a century, touched on the importance of Bitcoin in a podcast he attended. Lutnick, who touched on many topics from stablecoins to the US government debt, claimed that Bitcoin is not money.

The famous businessman, who was a guest on Anthony Pompliano’s Youtube channel, stated that he has hundreds of millions of dollars worth of Bitcoin and tries to buy it every time the price drops. Lutnick’s statements are as follows:

“We will cut wasteful spending with Elon Musk”

I, Elon Musk and Donald Trump can solve the budget deficit issue. I talked to Elon about this for 2 hours. We talked about cutting wasteful spending in the $6.5 trillion budget. There is $4.5 trillion in income. Everything, including taxes… I think we are going to hell. The debt will be $36 trillion. Look, in the Trump administration, the people who are competent in their jobs in America will go to the field. Everyone will do what they are good at. Making America great again will not remain just talk.

“Bitcoin is not a currency, it is a commodity…”

I’ve said it before. Bitcoin is not a currency. Bitcoin is a commodity like gold and oil. Even when you think about terms like mining and gas fees, you can understand that it is a commodity. Look, you can sell oil to anyone you want. You can mine gold in any way you want and sell it to anyone. The same goes for Bitcoin… If you call Bitcoin money, politicians will see it as an attack on their own country’s currency. But if it becomes a commodity, they will allow it. It will grow as they allow it. Bitcoin will grow much more. Just believe me…

“Stablecoin technology is very smart…”

Stablecoins are very important for this world… You go to Argentina and have to open a peso account… If you go to Europe, you have to open a euro account… But stablecoins give you the right to use your dollar account all over the world. This is very smart. That’s why I also like stablecoins.

“I have hundreds of millions of dollars worth of Bitcoin”

If you look at my shares in companies, I have several billion dollars. This is already public information. I have hundreds of millions of dollars in Bitcoin. Of course it will be billions of dollars. I always say that I buy every time Bitcoin falls. In fact, Cantor Fitzgerald will be a supportive company for Bitcoin’s entry into traditional finance. Bitcoin will grow even more as it becomes more accepted.”