Cathie Wood says she will vote for Trump as he is ‘best’ choice for US economy News ▸ US ▸ Bitcoin ▸ Election 2024
Cathie Wood says she will vote for Trump as he is ‘best’ choice for US economy
Wood revealed her intentions during an interview with financial analyst Kevin Paffrath during the weekend.
2 min read
Updated: Jul. 10, 2024 at 1:00 pm UTC
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Ark Invest CEO Cathie Wood said she intends to vote for former US president Donald Trump in the forthcoming November elections.
Wood revealed her intentions during an interview with financial analyst Kevin Paffrath during the weekend. She said:
“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.”
The Ark CEO further explained that her decision was influenced by economist Arthur Laffer’s description of the first three years of the Trump presidency “as the best in US economic history.”
Wood is the latest major figure from the crypto industry to publicly endorse Trump. The former President has adopted a more favorable stance toward crypto in recent months and pledged to support the industry and end the Biden administration’s “war on crypto” if elected.
Trump also recently vowed to make the US a Bitcoin mining “powerhouse” and said the flagship crypto “may be [the] last line of defense” against a central bank digital currency (CBDC).
Crypto has become an increasingly important issue for American voters this election cycle and many are expected to vote for Trump in November due to the Biden administration’s policies toward the industry.
Trump’s endorsement grows
Wood’s endorsement of Trump aligns with several crypto stakeholders and billionaires backing his re-election campaign.
Last week, Gemini co-founders Tyler Winklevoss and Cameron Winklevoss donated $1 million each in Bitcoin to Trump’s campaign and said they would vote for him in the Presidential elections. They wrote:
“President Trump is Pro-Bitcoin, Pro-Crypto, Pro-Business. And he will put an end to the Biden Administration’s war on crypto.”
Before that, venture capitalist David Sacks also stated that he supports Trump’s re-election, citing concerns with how President Joe Biden’s administration has handled the economy. He stated:
“I am giving my endorsement to our 45th President, Donald J. Trump, to be our 47th President. My reasons rest on four main issues that I think are vital to American prosperity, security, and stability – issues where the Biden administration has veered badly off course and where I believe President Trump can lead us back.”
According to Polymarket data, Trump has a 57% chance of winning, while Biden’s chances are pegged at 34%.
Mentioned in this article
Bitcoin 
Ark Invest 
Gemini 
ARK 21Shares Bitcoin ETF 
Cathie Wood 
Tyler Winklevoss 
Cameron Winklevoss 
Donald Trump 
Joe Biden Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ark Invest
ARK Investment Management LLC (ARK Invest) holds a precision lens on thematic investing.
Gemini
Gemini is a regulated digital asset exchange and custodian that allows customers to buy, sell, store, and stake digital assets in a regulated, secure, and compliant manner.
The ARK 21Shares Bitcoin ETF (ARKB) is a digital asset ETF that seeks to track the performance of bitcoin, as measured by the performance of the CME CF Bitcoin Reference Rate – New York Variant (the “Index”).
Cathie registered ARK Investment Management LLC (“ARK”) as an investment adviser with the U.S.
Tyler Winklevoss, known for his pioneering role in the cryptocurrency realm, is a Harvard University alumnus with a degree in Economics and holds an MBA from Oxford University.
Cameron Winklevoss, a renowned figure in the cryptocurrency sector, is a Harvard University graduate with a degree in Economics and holds an MBA from Oxford University.
Donald John Trump was born on June 14, 1946, in Queens, New York City.
Joe Biden, byname of Joseph Robinette Biden Jr., is an American politician and the 46th and current president of the United States.