ARK Invest CEO Cathie Wood Supports Trump for President, Says He Would Be ‘Best for the Economy’

June 24, 2024
ARK Invest CEO Cathie Wood President Is Trump, Explains He Would Be "Best for the Economy"

Cathie Wood, the CEO of ARK Invest, has expressed support for Donald Trump as a potential future President of the United States. This support comes as Trump gains traction in the Republican primaries. 

In a recent interview with financial analyst and YouTuber Kevin Paffrath, Wood endorsed Trump for the upcoming presidential election, stating he would be “best for the economy.” Wood highlighted her focus on economic performance and emphasized that her voting decision is driven by economic considerations, aligning with her investment philosophy at ARK Invest.

Wood, during the interview, was asked the popular question: “Trump or Biden?” Wood, who has three children, shared that she discussed the election with her family and emphasized her focus on choosing the candidate she believes would be best for the economy. 

She stated, “As I’ve said to them, ‘Look, I am going to vote for the person who’s going to do the best job for our economy.’ I am a voter when it comes to economics, and on that basis, Trump.”

Wood further elaborated that Art Laffer, founder and chairman of Laffer Associates, described the first three years of the Trump presidency as the best in U.S. economic history, excluding the last year due to COVID-19. She concurred with this assessment, emphasizing the economic prosperity experienced during that period.

The ARK Invest CEO’s endorsement of Trump aligns with the growing interest in cryptocurrency within the political landscape. Trump has been vocal in his support for cryptocurrencies, non-fungible tokens (NFTs), and bitcoin mining. He has started receiving cryptocurrency donations for his political campaign since last month.

Notably, last week, Cameron and Tyler Winklevoss made a significant contribution to the Trump campaign. The Winklevoss twins, pioneers in the crypto space and founders of the crypto exchange Gemini, generously contributed 30.94 Bitcoin, worth around $2 million, to Trump’s campaign. Their endorsement reflects Trump’s unwavering pro-crypto stance and a desire to counter what they perceive as the Biden administration’s ‘war on crypto.’

Tyler, in a post on X, noted that “This administration’s actions have been nothing short of an unprecedented abuse of power wielded entirely for twisted political gain at the complete expense of innovation, the American taxpayer, and the American economy. There is nothing the Biden administration can do or say at this point to pretend otherwise.” His twin Cameron also endorsed the former president, saying, “President Trump is pro-Bitcoin, pro-Crypto, pro-Business, and he will put an end to the Biden administration’s war on crypto.”

Ark Invest, a pioneer in the pursuit of a spot Bitcoin ETF in the US, partnered with 21Shares to apply for the launch of the Ark 21Shares Bitcoin ETF (ARKB) in September 2023. This innovative financial product received approval for trading in January 2024.

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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

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