Cathie Wood: Meme coins like TRUMP may lack practicality but help promote Cryptocurrency to new audiences

Odaily Planet Daily News ARK Invest CEO Cathie Wood has conducted in-depth analysis on how Trump's return to the White House will change the cryptocurrency landscape. She pointed out that recent appointments and market developments indicate that the Trump administration has a friendly attitude towards cryptocurrencies. She also praised the appointment of Paul Atkins as the chairman of the SEC, calling him a supporter of cryptocurrency, and expecting that under his leadership, regulation of digital assets will be relaxed. When it comes to the emergence of meme coins with themes like "Official Trump", Wood drew a parallel with the ICO movement in 2017. She stated that while these tokens may lack direct utility, they help introduce cryptocurrency to new audiences. She compared it to the early days of internet applications, where widespread investment in infrastructure ultimately led to technological advancements. When discussing specific Crypto Assets investments, Wood emphasizes that ARK focuses on the 'big three' - Bitcoin, Ethereum, and Solana - rather than meme coins. She emphasizes that ARK's ARKB is one of the larger spot Bitcoin ETFs, while maintaining investments in Ethereum and Solana through private funds. Wood is optimistic about Trump's economic agenda, explaining how the new government will 'turn fear into optimism' and how deregulation is 'unleashing animal spirits.' With increased risk appetite, ARK's investment strategy has begun to show positive momentum. However, Wood emphasizes that their fundamental approach to investing in innovation remains unchanged. Overall, Wood believes that the combination of political support, regulatory transparency, and market changes in the Trump administration may accelerate the adoption of Cryptocurrency. (crypto.news)