Trump’s Crypto Strategy Earns Cathie Wood’s Vote

Sahana Kiran
Source – SCMP

Cryptocurrency is a major highlight of the 2024 U.S. presidential elections. Political parties have embraced the market. The former President of the U.S., Donald Trump, has time and again criticized cryptocurrencies but seems to have become a notable industry advocate. Some believe that Trump’s recent interest in cryptocurrency is to win some votes. A few others are certainly impressed by him. Cathie Wood, the CEO of Ark Invest, is on ‘Team Trump.’ During a recent Las Vegas conference, Wood said,

“As I’ve said to my children… as I’ve said to them, ‘Look, 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.”

Wood’s latest endorsement is important, as she is a prominent figure in the industry. Her support for Trump comes at a favorable time for the former president, as it shows the rising interest of certain economic leaders. In addition, she also shed light on Trump’s economic policies during his previous term. Wood quoted economist Arthur Laffer and said that the pre-COVID administration was the “best in U.S. economic history.”

Also Read: Donald Trump Touts Bitcoin Mining As Final Defence Against CBDC

Is the U.S. Political Scene Catching the Crypto Train?

Trump has been actively promoting the cryptocurrency industry. He started his inclination towards the market by accepting donations in cryptocurrency. In addition, Wood wasn’t the only one who showed support for Trump; the Winklevoss twins, the founders of Gemini, donated $2 million worth of Bitcoin to Trump’s campaign. Following this, Joe Biden, the current president, also expressed interest in the digital world.

Raphael Zagury, Swan Bitcoin’s Chief Investment Officer spoke about the same and said,

“It started with senators talking about Bitcoin. Then we had more people talking about it. And now we have Trump coming in, which was a surprise for most people, even for some of us who had been in Bitcoin for a long time, to hear him saying the positive things that he did. For people who are very disillusioned with a lot of things that are happening in politics, this could be a very substantial change.”

Also Read: Gemini Crypto Exchange Founders Donate $2M In Bitcoin To Donald Trump