TL;DR
- Cathie Wood, CEO of ARK Invest, has publicly endorsed former President Donald Trump for the 2024 presidential election, citing his economic strategies as the main factor influencing her choice.
- In an interview, Wood stated she would vote for the candidate she believed would best serve the country’s economy, and on that basis, Trump. She also mentioned economist Art Laffer’s praise for the first three years of Trump’s presidency as the most successful in U.S. economic history.
- Wood’s support aligns with Trump’s growing advocacy for cryptocurrencies, as the former president has expressed his desire to reduce hostility towards crypto in the US if elected.
Cathie Wood, CEO of ARK Invest, has publicly endorsed former President Donald Trump for the next presidential election, highlighting his economic strategies and crypto stance as the main factors influencing her choice in the 2024 campaign.
In an interview with financial analyst and YouTuber Kevin Paffrath, Wood stated that she would vote for the person she believed would best serve the country’s economy. “I am going to vote for the person who’s going to do the best for our economy. I am a voter when it comes to economics, and on that basis, Trump,” she answered.
Wood also mentioned the accolades Trump’s economic policies received from Art Laffer, the founder and chairman of Laffer Associates, who hailed the first three years of Trump’s presidency as the most successful in U.S. economic history.
Wood’s Support Aligns with Trump’s Crypto Advocacy
Cathie Wood, a prominent supporter of cryptocurrencies, is widely acknowledged for her unwavering belief in the potential of Bitcoin and other digital assets. Not only does she personally invest in these innovative forms of currency, but she also champions their benefits on a professional level.
Cathie perceives Bitcoin as an ever-growing asset that holds immense value, particularly in safeguarding against inflation in nations with less stable currencies.
Wood, renowned for her optimistic stance on Bitcoin, has garnered attention with her audacious forecast that the cryptocurrency could reach $3.8 million by 2030. Her bullish outlook hinges on the expectation that institutional investors will significantly boost their Bitcoin allocations, potentially dedicating more than 5% of their portfolios to crypto.
Trump’s recent focus on cryptocurrencies has become more apparent as he continues his campaign. He has expressed his desire to shift the negative sentiment towards crypto in the U.S., if he secures a second term, highlighting his appreciation for and knowledge of digital currencies while distinguishing the current President, Joe Biden.
Wood’s support for Trump comes at a time when several billionaires, including Stephen Schwarzman, the CEO and co-founder of Blackstone, and the Winklevoss twins, have thrown their support behind Trump’s re-election campaign.
With the upcoming presidential debate between Biden and Trump on June 27, the United States is buzzing with anticipation. Interestingly, cryptocurrency has emerged as a hot topic in campaign finance and economic strategy discussions. This highlights the increasing impact of digital assets on American politics and the economy.
