Tether 'Has The Money,' Says Billionaire CEO: 'Bitcoin Will Grow'
Portfolio Pulse from Murtuza Merchant
Howard Lutnick, CEO of Cantor Fitzgerald, expressed confidence in Tether (USDT), stating the stablecoin has the necessary funds. Despite a UN report linking USDT to criminal activities, Lutnick sees stablecoins as valuable, especially in countries with volatile economies. He also believes Bitcoin (BTC) will grow, comparing its trajectory to early gold ETFs and predicting stability with potential for future rallies. Lutnick was skeptical about the need for Bitcoin ETFs in the U.S., viewing them as less practical than stablecoins in countries like Argentina, Venezuela, and Turkey.
January 16, 2024 | 10:12 pm
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POSITIVE IMPACT
Howard Lutnick's positive outlook on Bitcoin, comparing its growth potential to gold ETFs and predicting stability and growth, could foster investor confidence in the short term.
Lutnick's comparison of Bitcoin to gold ETFs and his anticipation of growth following the 'halving' event could lead to increased investor interest and potentially drive up the price in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Despite scrutiny from a UN report, Lutnick's endorsement of Tether's financials and the practicality of stablecoins in countries with economic instability could support USDT's credibility and use.
Lutnick's positive comments on Tether, especially its utility in economically unstable countries, could mitigate concerns raised by the UN report and support USDT's position in the market.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70