Bitcoin Surges to $95K as Crypto Critic Lutnick Joins U.S. Cabinet

Howard Lutnick, a prominent critic of Bitcoin, has been officially confirmed as the new U.S. Commerce Secretary. This appointment comes at a time when the price of Bitcoin (BTC) has reached a significant milestone, trading at $95,444.20.

Lutnick, the CEO of Cantor Fitzgerald, has been a vocal critic of cryptocurrencies, particularly Bitcoin. His appointment to the Commerce Department, which oversees the U.S. Census Bureau and the National Oceanic and Atmospheric Administration, among other agencies, has raised eyebrows in the crypto community. However, it is unclear how his views on Bitcoin will influence his role as Commerce Secretary.

The confirmation of Lutnick comes as the price of Bitcoin continues to rise, reaching a new all-time high of $95,444.20. This latest surge in the price of the world's most popular cryptocurrency has been driven by a combination of factors, including increased institutional investment and growing mainstream acceptance.

Despite Lutnick's criticism of Bitcoin, the cryptocurrency has continued to gain traction among investors and businesses. The recent surge in the price of Bitcoin has also led to a rise in the value of other cryptocurrencies, as the overall market capitalization of the crypto industry has surpassed $2 trillion.

The appointment of Lutnick as Commerce Secretary is just one of many developments in the rapidly evolving world of cryptocurrencies. As the industry continues to grow and gain mainstream acceptance, it will be interesting to see how the U.S. government, under the leadership of the new Commerce Secretary, responds to the challenges and opportunities presented by cryptocurrencies like Bitcoin.