Commerce Secretary Howard Lutnick said the US is embracing Bitcoin (BTC) business, indicating a sharp change in policy from the Biden administration’s more hostile stance.
In a recent interview with Bitcoin Magazine at the White House, Lutonic laid out a vision that includes regulatory clarity, miners’ energy autonomy, and official recognition of Bitcoin in the national economic report.
He pointed to new efforts like the Commerce Department’s investment accelerator, reaffirming that Bitcoin will be treated as a commodity rather than a currency under President Donald Trump’s administration.
Latnik said:
“Bitcoin is a commodity and should be treated like a commodity. It should be treated like oil. It should be treated like gold. It is not currency.”
He added that the Bureau of Economic Affairs may explore incorporating Bitcoin into the country’s economic account. It is noted that BEA is already using gold in calculating GDP and international trade statistics.
Investment accelerator
The Commerce Department’s new investment accelerator, launched on March 31, is at the heart of the administration’s strategy. The program is designed to allow businesses to navigate regulations and permits, and Lutnick said that Bitcoin mining companies are one of the intended beneficiaries.
He said miners could build their own power plants near the gas fields, reducing their reliance on the grid and energy costs. He further emphasized that giving miners more control over their energy sources would strengthen the domestic mining industry.
He added:
“We see that the next generation of American miners can control their fate and control the cost of electricity (I think this is going to turbocharge Bitcoin mining in America.”
Bitcoin belongs to the US
Lutnick emphasized that the Trump administration’s approach is in stark contrast to its predecessors, and that Bitcoin companies should be confident in building their future in America.
He said:
“America is the most extraordinary business place on the planet.”
Lutnick added that he hopes the Bitcoin industry will “devise a way to win in America,” and pledged that the administration will support the industry’s long-term success. He argued that the American Bitcoin embrace was irreversible.
According to Lutnick:
“I’ve never seen the United States turn away after accepting something. It never happened.”
His remarks welcome a new era for the growth of digital assets in American soil as the Trump administration pushes the United States to become the dominant hub of Bitcoin innovation and infrastructure.
