During this weekend, Kyle Bass, the popular American investor and hedge fund manager who founded “Hayman Capital Management” in 2005, gave his opinion on X about the two favorites to occupy the position of Secretary of the Treasury of the United States under the mandate of President-elect “Donald Trump.”
It should be noted that, currently, the main contenders are “Scott Bessent”, founder of Key “Square Capital Management”, and “Howard Lutnick”, CEO of the financial services firm “Cantor Fitzgerald”.
“Scott Bessent is far more qualified than Howard Lutnick to lead the US Treasury.” Kyle Bass said. «Scott understands markets, economics, people and geopolitics better than anyone I have ever interacted with. The markets have already anticipated Bessent’s election. “Lutnick is not Trump’s answer,” he added.
However, shortly after Bass’ comment, Robert F. Kennedy Jr. joined the thread on X, signaling his support for “Howard Lutnick.”
“Bitcoin is the currency of freedom, a hedge against inflation for middle-class Americans, a remedy against the devaluation of the dollar as the world’s reserve currency, and an escape route from a ruinous national debt.” Said Robert F. Kennedy Jr. “Bitcoin will not have a stronger defender than Howard Lutnick,” he added.
At the time of writing this post, Bitcoin is trading at $90,598. Source: CoinMarketCap
Importantly, Howard Lutnick has become a popular Bitcoin (BTC) advocate, seamlessly integrating the Cryptocurrency into his company’s financial offerings. For reference, in July of this year, Lutnick unveiled a $2 billion Bitcoin funding venture, designed to offer leverage to BTC holders.
The Future of the US Treasury: Will Cryptocurrencies Dominate the Economic Agenda?
Notably, Donald Trump has already announced many appointments in recent days, including his pick for Secretary of State of Florida Senator Marco Rubio and his appointment as Attorney General for former Florida Representative Matt Gaetz.
However, Treasury is the most important position left to fill, but President Trump has not yet announced options for other roles, including the heads of the Departments of Education and Labor.
Additionally, the company “Cantor Fitzgerald,” whose CEO is Howard Lutnick, is strongly linked to Tether. Since late 2021, Cantor Fitzgerald has acted as custodian of Tether’s reserves, overseeing a substantial portion of Tether’s US Treasury assets.
In addition, Tesla CEO and important Trump ally, Elon Musk, has endorsed Howard Lutnick as US Treasury Secretary.
It is important to note that billionaire and hedge fund investor Scott Bessent is also seen as a strong supporter of cryptocurrencies. For reference, recently in an interview with “Fox Business,” Bessent noted that one of the most exciting things about Bitcoin is that “it attracts young people and those who have not participated in the markets before.”
«I have been excited by the president’s embrace of cryptocurrencies and think it fits very well with the Republican Party. “Cryptocurrencies are about freedom and the crypto economy is here to stay.” Terrett indicated.
Likewise, the intense debate over the next United States Secretary of the Treasury reflects a crucial moment for American economic policy, especially as cryptocurrencies continue to be present in all debates. Additionally, both Lutnick and Bessent bring unique perspectives to the crypto space, highlighting the influence of crypto assets on American politics.
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