IMPORTANT POINTS:
- Cathie Wood supports Trump for economy: CEO of Ark Invest supports Trump to improve the economy.
- Bitcoin Prediction at 3.8 Million: Cathie Wood Projects Record Price for Bitcoin in 2030.
- Ark Invest Bitcoin ETF Approval: Ark Invest successfully launches the Ark 21Shares Bitcoin ETF.
Cathie Wood Supports Donald Trump and Predicts a Bright Future for Bitcoin
Cathie Wood, the CEO of Ark Invest, has recently declared her support for Donald Trump in the upcoming US presidential election. She firmly believes that Trump will be the best candidate for the country’s economy.
“I’m going to vote for the person who will do the best for our economy. “I am a voter in economic terms,” said Wood while speaking at the Millionaire Symposium event in Las Vegas this weekend. “And on that basis, Trump.”
In his speech, Wood mentioned economist Arthur Laffer, who was Trump’s economic adviser in the 2016 campaign. Wood noted that the first three years of the Trump administration before the COVID-19 pandemic were “the best in US economic history.”
Bullish Prediction for Bitcoin
Known for her optimistic outlook on the price of Bitcoin, Wood has recently made headlines with her bold prediction that Bitcoin could reach $3.8 million by 2030. Her vision is based on the belief that institutional investors will significantly increase their allocations in Bitcoin, potentially investing more than 5% of their portfolios in cryptocurrencies.
The approval of Bitcoin exchange-traded funds (ETFs) has facilitated institutional adoption. These funds provide a more accessible and regulated way for large investors to gain exposure to Bitcoin. Ark Invest pioneered the race to launch a Bitcoin ETF in the US. In September 2023, ARK Invest filed to launch the Ark 21Shares Bitcoin ETF (ARKB) in partnership with 21Shares. This ETF was approved for marketing in January of this year.
Crypto Interest Convergence
Ark Invest’s involvement in Bitcoin appears to align with Trump’s recent defense of the crypto sector. In recent months, Trump has publicly expressed his support for Bitcoin and the cryptocurrency sector. The Trump campaign has received significant cryptocurrency donations, including 2 million in Bitcoin from the Winklevoss twins. However, Bloomberg reported that these donations exceeded the federal limit and were partially refunded.
Cathie Wood’s endorsement of Donald Trump and her optimism about the future of Bitcoin underscore a convergence of economic and technological interests. These factors could significantly influence the future of the financial and cryptocurrency sector in the US.
