Cantor Fitzgerald CEO Says Bitcoin Should Be Treated Like Gold and Oil, Calls for Regulatory Clarity

• Howard Lutnick believes Bitcoin is a commodity and should be treated similarly to gold and oil in financial markets.
• SEC Chair Gary Gensler reaffirms Bitcoin’s status outside the definition of a security, offering clarity in a complex regulatory environment.
• Lutnick predicts commodities and equities may converge over time, but regulators are still far from understanding digital assets.

Howard Lutnick, CEO of Cantor Fitzgerald, a $13.2 billion global financial firm, has expressed his views on Bitcoin, likening the digital currency to traditional commodities such as gold and oil. 

Lutnick emphasized that Bitcoin, unlike other cryptocurrencies, should be treated as a commodity. His comments highlight the ongoing debate around Bitcoin’s classification and the broader crypto market’s regulatory framework.

Bitcoin as a Commodity

Lutnick’s remarks highlight his belief that Bitcoin stands apart from other digital currencies. “Bitcoin is a commodity. It should be treated like gold and oil,” he stated. According to Lutnick, other digital assets and currencies may have different classifications, but Bitcoin’s nature as a commodity is clear. His statement aligns with the regulatory stance of the U.S. Securities and Exchange Commission (SEC), which also does not consider Bitcoin to be a security.

SEC’s Stance on Bitcoin and Digital Assets

Recently, SEC Chair Gary Gensler reiterated the agency’s position that Bitcoin does not qualify as a security. Gensler emphasized that this view has been consistent across multiple SEC administrations, clarifying that the public can access Bitcoin through exchange-traded funds (ETFs) on major platforms like Nasdaq and the New York Stock Exchange. 

However, Gensler noted that while Bitcoin’s regulatory path is clear, many other digital assets face uncertainty. This regulatory ambiguity has been a point of contention within the industry, with some arguing that the rules governing digital assets are unclear.

Commodities and Equities: A Converging Future?

Lutnick further commented on the future of commodities and equities, predicting that over the next two decades, these markets might gradually merge. However, he noted that the regulatory sector still has a long way to go, particularly with regard to digital assets. 

“They don’t even know how to do crypto and digital at all,” he said, referring to regulators’ understanding of the space. Lutnick’s statements reflect the growing nature of the crypto market and its interaction with traditional financial systems.