ARK Invest’s Cathie Wood Predicts Blockchain Boom Under Trump’s Presidency
Cathie Wood, CEO of ARK Invest, believes that under a second term for Donald Trump, blockchain and several other tech sectors could see significant growth.
In a recent YouTube video, Wood highlighted that deregulation at the federal level could provide the push needed for technological innovation.
Wood pointed to key fields such as robotics, energy storage, artificial intelligence, blockchain, and multiomic sequencing, predicting that these industries, involving a range of 14 different technologies, are on the verge of entering exponential growth phases.
She explained that technological advancements often lead to deflationary outcomes due to their potential to drastically increase productivity, leading to lower prices or flat growth in some areas.
READ MORE:
Who Might Replace Gary Gensler as SEC Chairman?Despite Trump’s past criticism of cryptocurrencies, including labeling them a “disaster waiting to happen” and taking action against Bitcoin in 2018, he has recently attempted to present himself as a more crypto-friendly candidate, seeking to distinguish himself from the current administration.
<span data-mce-type="bookmark" style="display: inline-block; width: 0px; overflow: hidden; line-height: 0;" class="mce_SELRES_start"></span>
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitwise CIO sees crypto’s golden age beginning with Trump’s win
BTC sees early Election Day boost above $70K
CoinFund president Chris Perkins said crypto voters will influence a number of election outcomes
Bitcoin hits new all-time high on Trump presidential victory
Bitcoin markets soared just after 10 pm ET on election night, briefly surpassing $75,000
Polymarket resolves US presidential election winner bets as AP, Fox and NBC call it for Trump
Polymarket has resolved its U.S. presidential election market after major news organizations called it for Trump.U.S. presidential election bets on Polymarket reached more than $3 billion in trading volume ahead of the election.