Cantor Fitzgerald is considering launching a Bitcoin finance business with initial capital of $2 billion.
The CEO of the financial services giant announced the plans at Bitcoin 2024.
Cantor Fitzgerald is partnering with a top bitcoin custody platform to provide leverage to investors holding BTC.
New York-based global financial services firm Cantor Fitzgerald plans to invest an initial $2 billion in a new Bitcoin finance venture, CEO Howard Lutnick announced at Bitcoin 2024.
The company confirmed the plans via a press release.
Cantor Fitzgerald turns its attention to Bitcoin finance
The new business venture will provide leverage to investors who hold Bitcoin, according to Cantor Fitzgerald's CEO and details in a news release. The firm plans to invest further into the fundraising platform after initially committing $2 billion.
“We are excited to help unlock Bitcoin's full potential and continue bridging the gap between traditional finance and digital assets,” Lutnick said in a statement.
A Cantor Fitzgerald executive said in comments at Bitcoin 2024 that the firm is bringing its flagship digital asset to global financial markets. The firm is ready to work with major custodians in the market, he added.
Lutnick also revealed that Cantor Fitzgerald owns Bitcoin and that he personally holds the benchmark cryptocurrency.
BREAKING: $13.2B Cantor Fitzgerald CEO says he has “a ton of #Bitcoin” pic.twitter.com/Ei9mmNUwlF
— Bitcoin Magazine (@BitcoinMagazine) July 27, 2024
“In my view, bitcoin, like gold, should be freely tradeable anywhere in the world, and as the world's largest wholesaler, we will do everything in our power to make that happen,” he said at Bitcoin 2024.
Cantor Fitzgerald was founded in 1945 and has grown to become one of the world's leading financial services providers.
The company offers access to services such as investment banking, equity research, capital markets, asset management and prime brokerage.
