Cathie Wood will not invest in $TRUMP, will stick with the 'Big Three' currencies

Cathie Wood, CEO and Chief Investment Officer of ARK Invest, stated that US President Donald Trump is opening up the next phase of the cryptocurrency revolution. In an interview with Bloomberg on January 22, Wood discussed Trump's official token (TRUMP), which was launched just before his inauguration as the 47th President of the United States. "[Trump Coin] There will be no utility [...] speculating that [...] you will get to meet President Trump as one of the utilities of owning this coin. I don't know if that's true or not, but so far, we don't know many utilities for this coin, except that it is a memecoin of President Trump."

She compared the current memecoin wave to the initial coin offering (ICO) craze in 2017. “I think the ICO movement in 2017 really brought this new technology, or at least the curiosity about this new technology, to a completely new group of people. And while, you know, some people in the traditional cryptocurrency world have considered that — I think he used the word 'shocking' or something like that — it really opened up many perspectives.” Last week, the memecoin TRUMP surged 11,000% in just a few hours after its launch, pushing the memecoin trading volume up 30% in the past seven days, reaching $17.98 billion. When asked if she bought Trump Coin, Wood declined. We have almost avoided memecoins. We are heavily focused on three major currencies, referring to Bitcoin ( BTC ), Ether ( ETH ), and Solana ( SOL ). Returning to a larger cryptocurrency ecosystem, Wood expressed optimism about the future of decentralized finance. "We believe that the decentralized finance movement, some call it DeFi or internet financial services, will be very big. It is built on Ethereum and Solana," she added. In December 2024, Wood reiterated his prediction that BTC could surpass $1 million by 2030. Whale Dominates $Trump According to blockchain analysis company Chainalysis, the TRUMP token and the Official Melania Meme token (MELANIA) are controlled by 40 cryptocurrency whales. The company said in a post on January 22 that these whales hold over $10 million in both types of tokens, accounting for 94% of the total token supply. Wallets worth from 1 million dollars to 10 million dollars account for 2.1% of total holders, while those holding values from 100,000 dollars to 1 million dollars account for 1.7%. About 2.2% of token owners hold values below 100,000 dollars, highlighting the dominance of high-value holders in these tokens. DexScreener's data shows 790,000 wallets holding TRUMP, while 343,000 wallets hold MELANIA. Despite this concentration among whales, Chainalysis notes that the tokens have brought a wave of new users to cryptocurrency, with nearly half of the buyers creating wallets on the same day they purchase the token. DYOR! (Write&Earn $TRUMP {spot})TRUMPUSDT#Write2Earn #