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Trump’s crypto strategy earns Cathie Wood’s vote
Cryptocurrency is one of the highlights of the 2024 US presidential election. Political parties have embraced the market. Former US President Donald Trump has repeatedly criticized cryptocurrencies, but appears to have become a notable supporter of the industry. Some believe Trump’s recent interest in cryptocurrency is to gain some votes. Some others are definitely impressed with him. Cathie Wood, CEO of Ark Invest, is part of “Team Trump.” During a recent conference in Las Vegas, Wood She said,
“Like I told my kids… like I told them, ‘Look, I’m going to vote for the person who’s going to do the best for our economy.’ I’m a voter when it comes to the economy. And on this basis, Trump.”
Wood’s latest endorsement is important, as he is a prominent figure in the industry. His support for Trump comes at a good time for the former president, as it demonstrates the growing interest of some business leaders. Furthermore, he also shed light on Trump’s economic policies during his previous term. Wood quoted economist Arthur Laffer and said the pre-COVID administration was the “best in the economic history of the United States.”
Read also: Donald Trump promotes Bitcoin mining as final defense against CBDC
Is the US political scene catching the cryptocurrency train?
Trump has actively promoted the cryptocurrency industry. He began his inclination towards the market by accepting cryptocurrency donations. Additionally, Wood wasn’t the only one to show support for Trump; the Winklevoss twins, the founders of Gemini, donated $2 million in Bitcoin to Trump’s campaign. Subsequently, Joe Biden, the current president, also expressed interest in the digital world.
Raphael Zagury, Chief Investment Officer of Swan Bitcoin, spoke about the same and She said,
“It all started with senators talking about Bitcoin. Then we had more people talking about it. And now we have Trump coming, and it was a surprise to most people, even some of us who have been in Bitcoin a long time, to hear him say the good things that he has done. For people who are very disillusioned with a lot of things that are happening in politics, this could be a very substantial change.”
Read also: Gemini Crypto Exchange Founders Donate $2 Million in Bitcoin to Donald Trump