Bitcoin ETF

Gains

<ul>
 <li>Citing economic justifications, Cathie Wood backs Trump’s reelection and commends his first three years in office.</li>
 <li>Wood believes Bitcoin might hit $3.8 million by 2030 due to growing institutional investment and ETF approvals.</li>
 <li>Trump’s backing of Bitcoin, despite donation limits, shows crypto’s impact on politics and hints at changing regulations.</li>
</ul>
<p>The CEO of Ark Invest, Cathie Wood, disclosed her political views when she <a href="https://cryptonewsland.com/trumps-bitcoin-promises-accused-as-scams-voters-believe-the-former-us-president-will-say-anything-for-votes/" target="_blank" rel="noopener noreferrer nofollow">supported Donald</a> Trump’s reelection. During her speech at the Millionaire Symposium in Las Vegas, she went into further detail on how her vote would be determined by financial factors.</p>
<p>“I’ll vote for whoever will do the best for our economy. I’m a voter when it comes to economics,” Wood said. “And on that basis, Trump.”</p>
<p>Arthur Laffer, an economist who counseled Trump throughout his 2016 presidential campaign, was likewise commended by Wood. She boasted that the first three years of Trump’s presidency had been “the best in US economic history,” praising its accomplishments.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">BREAKING: Cathie Wood, one of the most influential people in the business world just publicly announced that she'll be voting for Trump and that he had the best economy in history<br><br>"Trump or Biden?"<br><br>"I am a voter when it comes to economics. And on that basis, Trump."… <a href="https://t.co/czTAORZy8d" rel="noopener noreferrer nofollow">pic.twitter.com/czTAORZy8d</a></p>— George (@BehizyTweets) <a href="https://twitter.com/BehizyTweets/status/1805006367792771383?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 23, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h3 class="wp-block-heading" id="h-ark-invest-s-bitcoin-strategy"><strong>Ark Invest’s Bitcoin Strategy</strong></h3>
<p>In comparison to these political stances, Cathie Wood appears Excessively enthusiastic about the <a href="https://cryptonewsland.com/donald-trump-vows-to-build-the-future-of-bitcoin-in-the-us-and-never-allow-the-creation-of-cbdc-much-like-robert-kennedy-jr/" target="_blank" rel="noopener noreferrer nofollow">future of Bitcoin</a>. By 2030, she predicted, it would reach as much as $3.8 million. Aside from her belief that institutional investors quickly raise their Bitcoin holdings manifold, meaning they may be able to invest more than 5% of their portfolios in Crypto, such a bold prediction relies on faith.</p>
<p>Well, the HostName approval of <a href="https://cryptonewsland.com/us-bitcoin-etfs-record-152m-outflow-in-continued-downtrend/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin spot exchange-traded funds</a> conveniently opens the way for large investors. These ETFs ensure a more accessible and more regulated way for big players to gain Bitcoin exposure. Ark Invest has been leading the way in this movement in the US.</p>
<p>Together with 21Shares, Ark Invest proposed the establishment of the <a href="https://www.21shares.com/en-us/product/arkb" target="_blank" rel="noopener noreferrer nofollow">Ark 21Shares Bitcoin ETF</a> (ARKB) in September 2023. This ETF was given permission to begin trading last January, thus entirely securing its top position and more deeply involving <a href="https://www.ark-invest.com/strategy/cryptoasset/#:~:text=ARK%20believes%20public%20blockchains%20are,capture%20the%20majority%20of%20value." target="_blank" rel="noopener noreferrer nofollow">Ark Invest in the crypto market</a>.</p>
<h3 class="wp-block-heading" id="h-trump-s-crypto-advocacy"><strong>Trump’s crypto advocacy</strong></h3>
<p>Therefore, Ark Invest’s foray into Bitcoin is very close to Trump’s cheerleading in the crypto. He has shown no hesitation in his full support of Bitcoin and the crypto sector at large. Significant donations in crypto have been received by his campaign, including a $2 million in Bitcoin from the <a href="https://cryptonewsland.com/refund-to-winklevoss-twins-by-trump-over-excessive-bitcoin-donation/" target="_blank" rel="noopener noreferrer nofollow">Winklevoss twins</a> themselves.</p>
<p>However, according to Bloomberg, these donations in Bitcoin violated the federal limit, with partial refunds made. This scenario shows that cryptocurrency plays a vital role in political campaigns and endorsements. Cathie Wood endorses Trump, but with a positive outlook toward Bitcoin, one finds an overlap between economic policy and cryptocurrency.</p>
<p>Seeing the rise of institutional adoption into Bitcoin through ETFs sets quite a view of the future of the crypto market. Big ambitions from Wood and support for her by Trump means a future change in cryptocurrency investing and regulation can be considerable.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/ark-invests-cathie-wood-predicts-600k-bitcoin-by-2030/" rel="noopener noreferrer nofollow">Ark Invest’s Cathie Wood Predicts $600K Bitcoin by 2030</a></li>
 <li><a href="https://cryptonewsland.com/cathie-wood-remains-confident-bitcoins-potential-to-reach-1000000-by-2030/" rel="noopener noreferrer nofollow">Cathie Wood Remains Confident: Bitcoin’s Potential to Reach $1,000,000 by 2030</a></li>
 <li><a href="https://cryptonewsland.com/cathie-woods-ark-invest-buys-and-sells-bitcoin-etfs/" rel="noopener noreferrer nofollow">Cathie Wood’s ARK Invest Buys and Sells Bitcoin ETFs</a></li>
 <li><a href="https://cryptonewsland.com/cathie-wood-on-bitcoin-and-ai/" rel="noopener noreferrer nofollow">Cathie Wood Predicts “Explosive Growth” in Bitcoin and AI Convergence</a></li>
 <li><a href="https://cryptonewsland.com/cathie-wood-we-need-a-bitcoin-etf/" rel="noopener noreferrer nofollow">Cathie Wood: We Need a Bitcoin ETF</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/trumps-crypto-advocacy-gains-more-traction-with-cathie-wood-at-the-lead/" rel="noopener noreferrer nofollow">Trump’s Crypto Advocacy Gains More Traction with Cathie Wood at the Lead</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Trump’s Crypto Advocacy Gains More Traction with Cathie Wood at the Lead

Table of Contents

Crypto News Land

Other articles published on Jun 24, 2024

Bitcoin Continues to Decline as AVAX Faces Challenges

TON Blockchain Daily Transaction Volume Hits $10b, Gaining Public Attention

Ethereum Faces Over $80 Million in Liquidations as Whale Transactions Decline! What’s Next for ET...

NEAR ALPHA SHOW - RECAP #11

Julian Assange freed from jail after plea deal with US

Breaking: Mt. Gox to Start Repaying Creditors in Bitcoin and BCH Next Week

Join our free newsletter for daily crypto updates!