Trump Coin has taken the market by storm as of late. The token was launched hours before the official presidential ceremony. Nearly 14% of Americans dove head straight into buying the aforementioned token. The token was launched at a strategically right time, leveraging the classic hype element of the cryptocurrency domain. Trump surged massively upon launch, hitting the $60 price mark. However, it plunged back to sit at $34 at press time. In this wake, Cathie Wood, CEO of Ark Invest, has shared her thoughts about the token. She added how the TRUMP coin may have utility in the long run.
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Cathie Wood’s Thoughts On TRUMP Coin
In an interview with Bloomberg, Cathie Wood, the Ark Invest CEO, shared her thoughts about the rising Trump meme coin’s popularity. Woods spoke in detail about the Trump coin, talking about a rising speculation circulating. The rumor includes meeting President Donald Trump as one of the meme coin’s utilitarian aspects.
“We shall see. I mean, there is speculation that you’ll get to meet with the US president, Donald Trump, as one of the utilities of owning the coin. I don’t know if that’s the case.” She later clarified
.@ARKInvest CEO and CIO Cathie Wood says we don’t know if President Trump’s memecoin holds much utility, but Trump is “ushering in the next phase of the crypto revolution.” She speaks with @scarletfu, @kgreifeld and @EricBalchunas on “ETF IQ” https://t.co/YbD2ANk8TA pic.twitter.com/pxlEjL3ZUA
— Bloomberg TV (@BloombergTV) January 22, 2025
Woods was quick to add how Trump is playing a pivotal role in unraveling the next phase of the crypto revolution.
“So far we don’t know the utility of this coin except that it is a meme coin of the president, Trump himself. In the early days of really, I think he is ushering in the next phase of the crypto revolution.”
Cathie Wood said that TRUMP is a meme coin. She did not buy it herself. She only holds Bitcoin, Ethereum and Solana. However, she believes that TRUMP coin is not completely worthless. It may symbolize a new stage of the cryptocurrency revolution and have certain practicality in…
— Wu Blockchain (@WuBlockchain) January 22, 2025
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The Meme Coin Is Aiming For $100
While Woods shared how she does not own the meme coin herself, the statistical data for the meme coin tells a different story. Per CoinCodex, the TRUMP coin is aiming for the long haul. It is eyeing the $100 price mark. The coin may achieve the aforementioned mark by mid-February 2025.
“According to our current Official Trump price prediction and is predicted to rise by 219.46% and reach $ 106.52 by February 23, 2025. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 75 (Greed). Official Trump recorded 3/6 (50%) green days with price volatility over the last 30 days. Based on the Official Trump forecast, it’s now a bad time to buy the coin.”
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