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Bitcoin Backer Lutnick Confirmed as US Commerce Secretary

Coin WorldTuesday, Feb 18, 2025 8:55 pm ET

1min read

Howard Lutnick, a long-time advocate of Bitcoin and former CEO of Cantor Fitzgerald, has been confirmed as the new US Secretary of Commerce. The Senate approved his nomination in a 51-45 vote, securing his position in President Donald Trump’s administration.

Lutnick will now lead the Department of Commerce, overseeing economic statistics, census operations, and weather reporting. His role includes managing a workforce of approximately 50,000 employees while implementing the administration’s trade policies.

Lutnick is expected to work alongside Jamieson Greer, Trump’s nominee for trade negotiator, to enforce tariff policies aimed at reshaping US trade relationships. He has voiced support for imposing tariffs on a country-by-country basis, arguing that they will encourage foreign governments to lower trade barriers for American goods.

Prominent Bitcoin supporters, including MicroStrategy Executive Chairman Michael Saylor and Senator Cynthia Lummis, congratulated Lutnick on his confirmation. “Congratulations @HowardLutnick on your confirmation as Secretary of Commerce,” Saylor wrote on X, noting Lutnick’s strong financial exposure to Bitcoin.

Concurrently, U.S. Senator from Wyoming Cynthia Lummis, also a vocal supporter of cryptocurrency, expressed confidence in his leadership, stating, “I know he will do a fantastic job reinvigorating our economy.”

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