US Commerce Secretary Howard Lutnick reiterates Bitcoin is a commodity, should be treated like gold
Secretary of Commerce Howard Lutnick said the US is embracing Bitcoin (BTC) businesses, signaling a sharp policy shift from the Biden administrations more adversarial stance.
In a recent interview with Bitcoin Magazine at the White House, Lutnick laid out a vision that includes regulatory clarity, energy autonomy for miners, and official recognition of Bitcoin in national economic reporting.
He pointed to new efforts like the Department of Commerces investment accelerator and reaffirmed that Bitcoin would be treated as a commodity, not a currency, under President Donald Trumps administration.
Lutnick said:
Bitcoin is a commodity, and it should be treated like a commodity. It should be treated like oil. It should be treated like gold. Its not a currency.
He added that he might explore having the Bureau of Economic Affairs incorporate Bitcoin into national economic accounts similarly to how it treats gold, noting that the BEA already uses gold in calculating GDP and international trade statistics.
Investment accelerator
The Department of Commerces new investment accelerator, launched March 31, is a centerpiece of the administrations strategy. The program is designed to help companies navigate regulations and permits, and Lutnick said Bitcoin mining firms are among the intended beneficiaries.
He noted that miners could build their own power plants near gas fields, reducing dependence on the grid and slashing energy costs. He further emphasized that giving miners more control over their energy sources would strengthen the domestic mining industry.
He added:
Youll see the next generation of miners in America will be able to control their destiny and control the cost of power, [which], I think, is going to turbocharge Bitcoin mining in America.
Bitcoin belongs in the US
Lutnick underlined that the Trump administrations approach stands in stark contrast to its predecessors, and that Bitcoin companies should feel confident about building their futures in America.
He stated:
America is the most extraordinary business place on Earth.
Lutnick added that he wants the Bitcoin industry to figure out how to win in America, pledging that the administration would support the industrys long-term success. He insisted that Americas embrace of Bitcoin is irreversible.
According to Lutnick:
Youve never seen the United States of America embrace something and then turn their back on it later. Thats never happened.
His remarks come as the Trump administration pushes to make the U.S. a dominant hub for Bitcoin innovation and infrastructure, welcoming a new era for digital asset growth on American soil.
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Text source: CryptoSlate
