Elon Musk, RFK Jr. Support Pro-Bitcoin Howard Lutnick For Treasury Secretary

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As a researcher with a keen interest in both finance and technology, I find myself deeply intrigued by the ongoing debate surrounding the potential candidates for the Secretary of the Treasury position under President Trump. While there are several strong contenders, Howard Lutnick stands out as an exceptional choice for the Bitcoin community due to his extensive investment in Bitcoin and his unwavering belief in its potential as a global currency.

Over the past few days, Donald Trump, our recently inaugurated U.S. President, has been appointing individuals to his new administration. As of now, however, the crucial position for Bitcoin enthusiasts – the Secretary of the Treasury – is still unfilled. This post could potentially hold significant influence in creating a national Bitcoin reserve as Trump had mentioned during his campaign.

Based on whispers, it appears that the competition is extremely close between Scott Bessent, a previous executive at George Soros’ hedge fund and founder of Key Square Hedge Fund, and Howard Lutnick, chairman and CEO of Cantor Fitzgerald. Notably, Bessent has drawn attention in the past with his pro-Bitcoin remarks, while Lutnick is widely regarded as a strong Bitcoin advocate who heavily invests in BTC personally.

As a researcher, I’ve been openly invested in Bitcoin for a considerable amount, with expectations of that value surging to billions in the near future, as I shared during my interview with Anthony Pompliano. At the Bitcoin 2024 conference, I emphasized a comparison between Bitcoin and gold, suggesting that it should be traded globally on par with gold, without any exceptions.

Lutnick Is The Perfect Pick For Bitcoin

In the ongoing conversation, Elon Musk, CEO of Tesla, expressed his approval of Lutnick through a post on Twitter early on Saturday. Musk stated, “It would be intriguing to listen to more opinions on this matter, so that Donald Trump can take feedback into account. Personally, I believe Bessent represents the status quo, whereas Howard Lutnick will bring about change. The status quo is leading America towards financial ruin, so we need change, one way or another.” This statement was made just before Musk joined Trump at Madison Square Garden for a UFC event.

Elon Musk’s approval came as a direct reply to Kyle Bass’s post, where he advocated for Scott Bessent’s suitability to head the US Treasury. Bass suggested that Bessent was more qualified than Howard Lutnick for the position because of his expertise in markets, economics, people, and geopolitics. He stated that Bessent is one of the most knowledgeable individuals he has ever encountered in these areas. Furthermore, Bass implied that the financial markets have already predicted a potential choice of Bessent, while Lutnick may not be Trump’s solution for this role.

In a recent turn of events, Robert F. Kennedy Jr., who was recently appointed as the United States Secretary of Health and Human Services (HHS) by Trump, also shared his thoughts on the ongoing debate about who should be the next Treasury Secretary. Kennedy commended Bass’s statement, stating that Bitcoin serves as a symbol of freedom, an inflation hedge for the middle class, a solution to the devaluation of the US dollar as the world’s reserve currency, and a means of escape from crippling national debt. Kennedy went on to say that Howard Lutnick will find no stronger advocate for Bitcoin than himself.

Turur Demeester, as a board member of the Texas Bitcoin Foundation, pointed out the significant influence that Kennedy could exert on U.S. Bitcoin policies. He said, “In November 2024, if Kennedy takes charge of 27% of federal spending in the United States, he delivers Bitcoin its most powerful endorsement yet – for individual freedom, to balance the budget, and to strengthen the dollar.

Significantly, the competition for the role of Treasury Secretary is being made more complex by news from The New York Times and The Wall Street Journal. These outlets claim that Lutnick, who helps lead Trump’s transition team, has allegedly had tense relations with the president-elect. This tension is said to stem from concerns about Lutnick exceeding his authority and potentially acting in his own interest during the transition period.

Beyond Kevin Warsh, a former Federal Reserve Governor, and Marc Rowan, CEO of Apollo Global Management, are also being considered for the role. They are being evaluated by Trump’s advisors as they look for individuals who support the administration’s economic plans, particularly the imposition of substantial tariffs on imported goods—a key component of Trump’s policy focus.

As a researcher delving into the subject matter, it’s evident that there persists an intriguing debate regarding a wildcard contender. In this context, Robert Lighthizer, who served as the US Trade Representative during the initial term of former President Trump and played a crucial role in the trade conflict with China, is under consideration for the position of a “trade czar.

As per Polymarket’s latest data, the competition remains close. Scott Bessent currently has a slight edge at approximately 36% of the lead, while Howard Lutnick trails closely with around 34.9%. Kevin Warsh holds about 16%, Marc Rowan follows with 9%, Bill Hagerty has 3%, and Robert Lighthizer accounts for 2%.

At press time, BTC traded at $91,908.

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2024-11-18 17:42