Cathie Wood Backs Trump

Cathie Wood, CEO of Ark Invest, recently declared her support for Donald Trump in the upcoming presidential election. She believes that Trump will be the best for the US economy.

"I will vote for the person who will do the best for our economy. I am a voter when it comes to economics. And on that basis, Trump," said Wood, speaking at the Millionaire Symposium event in Las Vegas this weekend.

Wood also cited economist Arthur Laffer, who served as an economic advisor to Trump's 2016 campaign. She said the first three years of the Trump administration before the COVID pandemic were the "best in US economic history."

Winklevoss Twins' $2 Million Bitcoin Donation

The intersection of cryptocurrency and politics is underscored by the recent donation of the Winklevoss twins. Cameron and Tyler Winklevoss, founders of Gemini, donated $2 million in Bitcoin to the Trump campaign.

Trump has publicly supported Bitcoin and the crypto sector, advocating for crypto, non-fungible tokens (NFTs), and Bitcoin mining in his speeches.

However, Bloomberg reported that their Bitcoin donations exceeded the federal limit and were partially refunded.

Biden Campaign Explores Crypto Donations

President Joe Biden's campaign is also exploring crypto donations. Through Coinbase Commerce, they are engaging with cryptocurrency industry players. This bipartisan engagement with the crypto industry signals its rising importance in the political arena.

The SEC's recent approval of spot Bitcoin ETFs and the potential approval of spot Ether ETFs tied to Ethereum have intensified the political involvement around cryptocurrencies.

Ark Invest's Crypto Advocacy

Ark Invest was an early mover in the US race to launch a spot Bitcoin ETF. In September 2023, ARK Invest applied to launch the Ark 21Shares Bitcoin ETF (ARKB) in partnership with 21Shares. Their proposed ETF was approved for trading in January of this year.

Ark Invest's early Bitcoin bet aligns with Trump's crypto advocacy. Wood has long been known for her bullish outlook on Bitcoin's price, recently predicting that Bitcoin could hit $3.8 million by 2030.

Her bullish outlook is primarily driven by her belief that institutional investors will considerably increase their Bitcoin allocations, potentially investing over 5% of their portfolios into crypto.

Crypto's Impact on the Election

As November approaches, the war of crypto and politics promises to make the election a pivotal moment for the future of digital assets in the US.

Cathie Wood's pro-crypto governance stance and the Winklevoss twins' large donation highlight crypto leaders' influence on political funding strategies.

Their support for Trump reflects a trend of industry experts backing political candidates who promise favorable regulatory environments for digital assets.

Cathie Wood Backs Trump

Cathie Wood, CEO of Ark Invest, recently declared her support for Donald Trump in the upcoming presidential election. She believes that Trump will be the best for the US economy.

"I will vote for the person who will do the best for our economy. I am a voter when it comes to economics. And on that basis, Trump," said Wood, speaking at the Millionaire Symposium event in Las Vegas this weekend.

Wood also cited economist Arthur Laffer, who served as an economic advisor to Trump's 2016 campaign. She said the first three years of the Trump administration before the COVID pandemic were the "best in US economic history."

Winklevoss Twins' $2 Million Bitcoin Donation

The intersection of cryptocurrency and politics is underscored by the recent donation of the Winklevoss twins. Cameron and Tyler Winklevoss, founders of Gemini, donated $2 million in Bitcoin to the Trump campaign.

Trump has publicly supported Bitcoin and the crypto sector, advocating for crypto, non-fungible tokens (NFTs), and Bitcoin mining in his speeches.

However, Bloomberg reported that their Bitcoin donations exceeded the federal limit and were partially refunded.

Biden Campaign Explores Crypto Donations

President Joe Biden's campaign is also exploring crypto donations. Through Coinbase Commerce, they are engaging with cryptocurrency industry players. This bipartisan engagement with the crypto industry signals its rising importance in the political arena.

The SEC's recent approval of spot Bitcoin ETFs and the potential approval of spot Ether ETFs tied to Ethereum have intensified the political involvement around cryptocurrencies.

Ark Invest's Crypto Advocacy

Ark Invest was an early mover in the US race to launch a spot Bitcoin ETF. In September 2023, ARK Invest applied to launch the Ark 21Shares Bitcoin ETF (ARKB) in partnership with 21Shares. Their proposed ETF was approved for trading in January of this year.

Ark Invest's early Bitcoin bet aligns with Trump's crypto advocacy. Wood has long been known for her bullish outlook on Bitcoin's price, recently predicting that Bitcoin could hit $3.8 million by 2030.

Her bullish outlook is primarily driven by her belief that institutional investors will considerably increase their Bitcoin allocations, potentially investing over 5% of their portfolios into crypto.

Crypto's Impact on the Election

As November approaches, the war of crypto and politics promises to make the election a pivotal moment for the future of digital assets in the US.

Cathie Wood's pro-crypto governance stance and the Winklevoss twins' large donation highlight crypto leaders' influence on political funding strategies.

Their support for Trump reflects a trend of industry experts backing political candidates who promise favorable regulatory environments for digital assets.