Ark Invest CEO Cathie Wood says she plans to vote for Trump for US economy
Quick Take Wood said she would vote for Donald Trump in the upcoming U.S. presidential election for economic reasons. Last week, the Winklevoss twins donated $2 million in bitcoin to the Trump campaign.
Cathie Wood, CEO of American investment firm Ark Invest, said that she plans to vote for Donald Trump, the former U.S. President and presumptive Republican nominee in the upcoming presidential election.
“As I’ve said to my children... as I've said to them, 'Look, 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,” Wood said over the weekend at a Las Vegas conference organized by financial content creator Kevin Paffrath. “And on that basis, Trump.”
In her following remarks, Wood cited economist Arthur Laffer in saying that the first three years of the Trump administration prior to the COVID pandemic have been the “best in U.S. economic history.” Laffer was the economic advisor to Trump’s 2016 campaign.
The Ark Invest CEO has long been a proponent of crypto, while Trump has recently expressed strong support for the crypto industry.
Ark Invest announced in 2015 that its ARK Web x.0 ETF had become the first ETF to invest in bitcoin. The company has since expanded its investment by buying shares in crypto-related companies such as Coinbase.
Meanwhile, Trump has been accepting donations in cryptocurrencies since last month and has given speeches advocating for crypto, non-fungible tokens and bitcoin mining. Last week, Cameron and Tyler Winklevoss, the founders of Gemini, donated bitcoin worth $2 million to the Trump campaign.
Earlier this month, The Block reported that President Joe Biden’s campaign was also in discussions with cryptocurrency industry players about accepting crypto donations through Coinbase Commerce.
The televised U.S. presidential debate between Biden and Trump is scheduled to air live on June 27.
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.
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