tl;dr
US Commerce Secretary Howard Lutnick emphasized that Bitcoin should be treated as a commodity, like gold or oil, not as a currency. He highlighted a policy shift under the Trump administration toward embracing Bitcoin businesses, including regulatory clarity, energy autonomy for miners, and official...
US Commerce Secretary Howard Lutnick emphasized that Bitcoin should be treated as a commodity akin to gold and oil, rather than as a currency.
He highlighted a significant policy shift under the Trump administration aimed at embracing Bitcoin businesses through regulatory clarity, enhanced energy autonomy for miners, and the official recognition of Bitcoin in national economic accounts.
The Department of Commerce recently launched an investment accelerator to help companies, including Bitcoin mining firms, navigate complex regulations and reduce energy costs by encouraging the construction of power plants near gas fields.
This initiative is designed to give miners more control over energy sources, helping to cut costs and strengthen the domestic mining industry.
Lutnick expressed confidence that America remains the best environment for Bitcoin innovation.
He pledged unwavering support for the industry's long-term success, emphasizing that the US is committed to making Bitcoin a lasting part of its economic landscape.
In his own words, Lutnick stated, “Bitcoin is a commodity, and it should be treated like a commodity. It should be treated like oil. It should be treated like gold. It’s not a currency.”
He also mentioned potential efforts to have the Bureau of Economic Analysis incorporate Bitcoin into national economic accounts similarly to gold, which is already factored into GDP and trade statistics.
Overall, the administration's new approach signals America’s ambitions to become a dominant hub for Bitcoin innovation and infrastructure, fostering a supportive and forward-thinking environment for digital asset growth on US soil.
Lutnick concluded, “You’ve never seen the United States of America embrace something and then turn their back on it later. That’s never happened.”