U.S. Commerce Secretary Sees Shining Future for Bitcoin
Howard Lutnick, the U.S. Secretary of Commerce, believes Bitcoin has a promising future in America.In a recent interview with Bitcoin Magazine, he compared Bitcoin to gold, highlighting its scarcity as a key factor in its value.
Lutnick, a long-time Bitcoin supporter, started his journey with the cryptocurrency in 2017. He explained that Bitcoinâs limited supply of 21 million coins makes it rare and valuable. By 2020, he fully embraced Bitcoin, moving from studying blockchain to investing heavily in it.
under the trump management, Lutnick is helping to change the governmentâs stance on Bitcoin. Along with David Sacks, he spearheaded the creation of a Bitcoin Strategic Reserve. This initiative aims to promote Bitcoin mining and innovation in the U.S.
One of Lutnickâs key projects is the âInvestment Acceleratorâ at the Commerce Department. This program assists large investments, especially in Bitcoin mining, by helping them navigate regulations. It also allows miners to build private power plants, reducing reliance on public grids and lowering costs.
Lutnick believes this will boost Bitcoin mining in America. He argues that the U.S. is an ideal place for business, and success here can lead to global achievements.He envisions a future where Bitcoinâs growth is closely tied to American entrepreneurship.
