- The company made its Bitcoin holdings public and argued for Bitcoin’s legalization in the US.
- Lutnick said that this move connects conventional finance with digital assets.
The announcement of a Bitcoin lending program was made at the Bitcoin 2024 conference on Saturday, July 27, by billionaire Howard Lutnick, who is also the Chairman and CEO of the financial services business Cantor Fitzgerald.
The company made its Bitcoin holdings public and argued for Bitcoin’s legalization in the US. In his speech at the 2024 Bitcoin Conference, Cantor Fitzgerald Chairman Howard Lutnick made the comment that the business has a “shit load” of BTC.
Moreover, as a public display of his unwavering support for the crypto community, Lutnick grabbed the stage. In his vehement address, he discussed a wide range of topics. Including the 9/11 terrorist attacks, in which his brother and 658 other Cantor Fitzgerald workers died. And the fact that he and his company are Bitcoin supporters.
Strategic Move
Even while the specifics of the lending business are still under wraps. The fact that Cantor Fitzgerald is putting up $2 billion for the venture may send a positive signal to other institutions and the market.
To wrap things off, Lutnick noted that the takeaway is that Bitcoin will soon be joining the global financial market’s financing family, with Cantor Fitzgerald serving as the sponsor. According to a recent press release, the firm is planning to start a Bitcoin lending business with an initial capital of $2 billion and expects to increase it as the business grows.
Investors holding Bitcoin will be given the funds, which is another step towards institutional crypto acceptance. Lutnick emphasized the move’s motivation in the announcement, saying that it connects conventional finance with digital assets.
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