Cathie Wood, founder of Ark Invest, stated on the show that once Trump becomes President of the United States, she expects a period of relaxed regulation, especially in technology, cryptocurrencies, and digital assets.
The United States must seize cryptocurrencies and AI
Wood revealed in June that she would vote for Trump in the upcoming presidential election based on economic considerations. However, the interview video has since been deleted, reportedly to avoid shaping an unfounded and incomplete political bias.
According to Bloomberg, Wood stated on CNN's (Inside Politics Sunday) program over the weekend that cryptocurrencies and artificial intelligence are technological platforms that the United States must grasp and utilize.
The United States must lead the way, just as we did in the internet age. Changes in regulatory systems focusing on cryptocurrencies and artificial intelligence will be very significant.
Wood also mentioned robotics technology, energy storage, and multiomic sequencing.
Note: Multiomic sequencing is a method that integrates various biotechnologies, including genomics, transcriptomics, etc. This approach provides a comprehensive understanding of biological systems by combining multiple datasets, helping researchers discover new associations between biological entities, identify relevant biomarkers, and establish complex disease and physiological models.
The stock market's rise is no longer concentrated in a few stocks, benefiting small and medium-sized enterprises
When asked about Trump's threats to impose tariffs on U.S. trading partners, Wood stated that if these tariffs could be offset by tax cuts, then 'there is indeed some sense to it.'
She believes that during Trump's second term, the expected growth in the stock market will be more dispersed.
Over the past four years, we have seen a significant amount of capital concentrated in a very small number of stocks. I believe the market will now expand and reward companies at the forefront of innovation, which will benefit small and medium-sized enterprises.
Ark is known for investing in startups, particularly having invested in Tesla and Nvidia at a very early stage (though it faced criticism from investors for selling Nvidia too early). After Trump appointed Elon Musk as the head of DOGE, Tesla's stock prices soared. Wood tweeted that their risk fund also invested in Musk's SpaceX, X (formerly Twitter), and xAI.
This article Cathie Wood: Trump's relaxed regulation will drive the stock market up, and we need to seize cryptocurrencies and AI first appeared in Chain News ABMedia.