Bitcoin

Ark Invest’s Cathie Wood Says There’s More Clarity for Investments

1 Mins read


Last week, the pro-crypto Republican presidential candidate Donald Trump won the United States election, paving the way for him to fulfill his many promises that could drive crypto adoption in the country.

Following Trump’s election victory, Ark Invest CEO and founder Cathie Wood stated in a recent video that there is more clarity in the investment landscape. In the 18-minute video, Wood discussed several events involving the country’s financial system that could play out in the new administration.

A Change in Guard at the SEC

Throughout the video, Wood compares Trump’s administration’s aim to tackle the financial landscape with Ronald Reagan’s administration’s similar actions in the 1980s. Reiterating the points in a tweet, she wrote:

Deregulation (defanging the SEC, FTC, and others), government spending cuts (making room for the private sector), tax cuts, and a focus on technologically enabled innovation are likely to turbocharge the US economy more powerfully than during the Reagan Revolution.

Under Joe Biden’s tenure, Gary Gensler, the U.S. Securities and Exchange Commission (SEC) chair, upheld a stringent approach to crypto adoption. The Ark Invest CEO emphasized that this move has caused the country to lose many talents to other countries. Still, she is optimistic that a change is imminent as Trump intends to replace Gensler with a crypto-oriented chair soon.

Other points Cathie Wood highlighted stressed how the new administration will improve the country’s financial landscape. These cut across subjects like artificial intelligence (AI), tax cuts, healthcare, and other advancements.

How Trump’s Administration Will Affect Bitcoin

For most of his electoral campaign, Trump positioned himself as a pro-Bitcoin politician. He showed this through many promises involving Bitcoin, one of which was making a BTC stockpile for the country.

Trump’s election win triggered a significant price uptrend for the leading crypto asset, unlocking multiple price peaks in less than a week. Earlier today, the cryptocurrency skyrocketed to over $82,000 to chart a fresh all-time high but has retraced slightly since then.

SPECIAL OFFER (Sponsored)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER 2024 at BYDFi Exchange: Up to $2,888 welcome reward, use this link to register and open a 100 USDT-M position for free!


Source link

Related posts
Bitcoin

UK to Introduce Legislation on Stablecoins, Crypto Staking: Report

2 Mins read
The British government plans to introduce legislation to regulate stablecoins and crypto staking. This move comes as President-elect Donald Trump lays out…
Bitcoin

Popcat Price Prediction: POPCAT Soars 34% And This Might Be The Next Crypto To Explode

3 Mins read
Join Our Telegram channel to stay up to date on breaking news coverage The Popcat price has soared 34% in the last…
Bitcoin

Will Dogecoin Repeat History? Past Cycle Trends Hints At Two Critical Potential Pullbacks

2 Mins read
Dogecoin in the past few weeks has displayed immense price strength breaking past crucial resistance levels, sparking optimism about its short-term performance….

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *