An American investment management firm, Ark Invest CEO Cathie Wood announced her intention to vote for former President Trump over current President Biden in the upcoming November election, citing her belief in Trump’s economic benefits for the US.
When asked about her decision during an interview with YouTuber Kevin Paffrath, Wood said that she had chosen the latter. “I am a voter when it comes to economics and on that basis — Trump,” she said. She talked to her children about the election and highlighted her interest in fiscal matters.
Wood quoted economist Arthur Laffer who evaluated Trump’s economic record. Laffer also noted that the period of Trump’s presidency, from 2017-2021, excluding the COVID-19 affected last year, was one of the most powerful in the US economic history.
Laffer, who advised Trump in 2016, co-authored “Trumponomics: Within the America First Plan to Reboot Our Economy.” In 2019, Trump honored Laffer with the Presidential Medal of Freedom for his supply-side economics concepts.
In the midst of these endorsements, it’s important to note the impact of 50 million crypto voters in U.S. elections. This significant voter base could influence the election outcome, given the growing interest and investment in cryptocurrencies.
Trump has also in recent times developed more awareness of cryptocurrencies as part of his campaign. If re-elected, he wants to decrease negative attitude towards crypto in the U. S. and has stressed his knowledge and positive attitude towards digital assets compared to Biden.
This support from Wood can be attributed to a pattern of billionaires supporting Trump. The head of Blackstone, Stephen A. Schwarzman, urged people to vote for Trump as a vote for change and the Winklevoss brothers, the Bitcoin billionaires, donated $1 million in Bitcoins to the Trump campaign.
The support from Cathie Wood also focuses on her belief in Trump’s economic agenda, which is also supported by other Wall Street personalities.
Also Read: Winklevoss Twins’ $1M Bitcoin Donations to Trump Refunded
