- Secretary Lutnick confirms Trump’s administration is committed to Bitcoin and supports its long-term role in U.S. economic policy.
- The Commerce Department’s accelerator program aims to support Bitcoin miners with permits and infrastructure development.
- Lutnick suggests that Bitcoin should be classified as a valuable commodity, like oil and gold, rather than a currency.
US Secretary of Commerce Howard Lutnick recently discussed Bitcoin’s role in America’s economic policy during President Trump’s first 100 days in office. The government official shared insights into the Bitcoin Strategic Reserve, President Trump’s vision for Bitcoin, and the prospect of incorporating BTC into the nation’s economic reporting. Lutnick also highlighted the prospects that investment accelerators hold, especially for Bitcoin miners in the country.
Lutnick Outlines Pro-Bitcoin Vision Under Trump Administration
In a recent interview with Bitcoin Magazine correspondent Frank Corva, Secretary Lutnick emphasized that Bitcoin is a welcome idea in the country. He added that the current administration has pro-Bitcoin members and isn’t just capitalizing on the current BTC frenzy.
Lutnick stated:
You have three amazing proponents for Bitcoin in the government of course led by the number one, which is Donald Trump of course and you have David Sacks and myself.
He also revealed that they had long been supporters of Bitcoin before being appointed as government officials. Secretary Lutnick acknowledged that the group of BTC believers has helped the administration quickly deliver on its Bitcoin campaign promises. He explained that Trump’s government seeks to help the Bitcoin industry succeed in the country.
The US Secretary affirmed that America is fully committed to Bitcoin moving forward and won’t reverse this stance even after Trump’s presidency. However, he noted that the industry needs to explore ways to achieve full penetration in America.
He told Corva that Bitcoin was treated “like you were doing something wrong” under the previous administration. Lutnick reassured citizens that such an outlook regarding the asset is now in the past and would not be repeated.
Lutnick Believes that BTC Should Be Treated as a Commodity, Rather than a Currency
The US Secretary remarked that Bitcoin should be viewed as a commodity of significant value. Lutnick likened the asset to oil and gold, stating that BTC “should be treated like a commodity,” rather than a currency.
He also drew attention to the investment accelerators and their potential prospects in America’s BTC mining sector. The Commerce Department established the program on March 31 to help new projects investing in America. It educates firms on regulatory compliance and assists them in obtaining the necessary permits.
Lutnick maintains that the program could help drive up the nation’s Bitcoin mining capabilities by providing miners with the necessary infrastructural exposure. According to the secretary, the program will assist industry participants in selecting the optimal location for building a Bitcoin mining power plant. Secretary Lutnick maintained that the move could help miners better manage power costs, thus boosting America’s BTC mining sector. In a separate interview with CNN, Lutnick stated that the government has reached an agreement with auto companies to ease levies imposed on imports.
