Key Takeaways
- Commerce Secretary Lutnick said Bitcoin should be treated like a commodity, similar to gold or oil.
- The Department of Commerce may include Bitcoin in national economic reporting metrics.
- A new investment accelerator aims to help Bitcoin miners reduce costs and build infrastructure.
U.S. Commerce Secretary Howard Lutnick has reiterated that Bitcoin should be treated as a commodity and not as a currency, aligning its status with that of oil or gold.
Speaking in a recent interview with Bitcoin Magazine at the White House, Lutnick outlined the Trump administration’s pro-Bitcoin stance and the Department of Commerce’s evolving strategy.
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. It’s not a currency.
Incorporating Bitcoin into economic accounts
He indicated that the Bureau of Economic Affairs might begin incorporating Bitcoin into national economic accounts, similar to how gold is factored into GDP and trade statistics.
Investment accelerator for Bitcoin miners
As part of this approach, the Department of Commerce launched an investment accelerator on March 31 to assist companies — including Bitcoin miners — with regulatory navigation.
Lutnick explained that domestic miners could benefit by building power infrastructure near gas fields to reduce grid reliance and energy costs.
After calling this shift a boost for U.S.-based Bitcoin mining, he said:
You’ll see the next generation of miners in America will be able to control their destiny and control the cost of power.
U.S. commitment to Bitcoin
Lutnick emphasized the U.S. commitment to supporting Bitcoin, contrasting the Trump administration’s support with the previous administration’s skepticism.
He said:
You’ve never seen the United States of America embrace something and then turn their back on it later. That’s never happened.
