Cathy Wood, CEO of Ark Invest, recently expressed her support for Donald Trump in the upcoming presidential election. Speaking at the “Millionaire Seminar” in Las Vegas, Wood said, “I will vote for the person who can make the best contribution to our economy…and that is Trump.” She pointed out that the first three years of Trump’s presidency, before the COVID-19 pandemic, were the best in American economic history, citing the influence of economist Arthur Laffer, who served as Trump’s economic advisor during his 2016 campaign.
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Wood’s support for Trump aligns with her optimistic view on Bitcoin. She boldly predicted that the value of Bitcoin will reach $38,000 by 2030. This bullish outlook is based on the belief that institutional investors will significantly increase their allocation to Bitcoin, potentially investing over 5% of their portfolios in cryptocurrencies.
Wood’s involvement in the Bitcoin space seems to coincide with Trump’s recent advocacy for cryptocurrencies. In the past few months, Trump has publicly expressed support for Bitcoin and has received substantial cryptocurrency donations, including a $20,000 Bitcoin donation from the Winklevoss twins.
