Ark Invest CEO Cathie Wood recently publicly stated that she will vote for Donald Trump in the upcoming presidential election because she believes Trump is most beneficial to the development of the US economy.
Wood made the comments at a seminar for millionaires in Las Vegas, where he emphasized his stance on the economy among voters.
Cathie Wood's Economic Position
"On the economy, I'm going to make my choice as an economic voter, and I'm going to vote for the person who has done the most for our economy, and based on that, I'm going to support Trump," Wood said at a seminar for millionaires in Las Vegas last weekend.
Wood also mentioned economist Arthur Laffer, who served as an economic adviser to Trump's 2016 campaign, in her speech. She also said that the Trump administration's performance before the outbreak of the new crown epidemic was "the best three years in American economic history."
Wood is also known for her bullish predictions for the price of Bitcoin, which she predicts will reach $3.8 million by 2030.
Wood’s optimism is mainly due to her expectation that institutional investors will increase their exposure to Bitcoin, which is expected to exceed 5% of their portfolios.
Institutional investment trends and policy prospects
The approval of a Bitcoin spot exchange-traded fund (ETF) has further boosted institutional adoption of Bitcoin, providing large investors with a more convenient and regulated way to invest in the cryptocurrency.
Ark Invest is at the forefront of the issuance of spot Bitcoin ETFs in the United States. In September 2023, the company submitted an application to regulators for the Ark 21Shares Bitcoin ETF (ARKB) in cooperation with 21Shares, and received approval for listing and trading in January of the following year.
In addition, Ark Invest’s active stance in Bitcoin investment is consistent with Trump’s recent support for the cryptocurrency industry. Trump has publicly expressed his approval and support for Bitcoin and the entire cryptocurrency field many times in the past few months.
Recently, Trump's campaign team has received many donations in the form of cryptocurrency. The Winklevoss twins are one of them. They donated a total of $2 million worth of Bitcoin. However, according to Bloomberg, part of the donation has been returned by the campaign team because the donation exceeded the legal donation limit. #美国经济 #CathieWood #特朗普 #加密友好总统
Conclusion
Cathie Wood's clear statement of support for Trump is based on her positive evaluation of Trump's economic policies and her expectations of their potential contribution to the U.S. economy. At the same time, Wood's optimistic forecast for Bitcoin and Ark Invest's active layout in the field of Bitcoin ETFs demonstrate her firm belief in the importance of cryptocurrency in the future of finance.
Although some of the cryptocurrency donations received by the Trump campaign were returned by the campaign because they exceeded the limit, the incident also reflects the emerging status of cryptocurrency in political donations.
Together, these developments reveal a clear trend: cryptocurrencies are being accepted by mainstream economic systems and political activities, heralding a major transformation in the financial sector and policymaking. As cryptoassets grow in popularity and play an increasingly prominent role in political financing, we are at the forefront of financial innovation and adaptive policy reform.
