ARK Invest founder Cathie Wood shared bold predictions about the U.S. economy and cryptocurrency market, expecting a significant rise in the cryptocurrency market after Trump returns to the White House. In a recent video, she emphasized that the restructuring of the U.S. SEC under the Trump administration could have a transformative impact on innovation in the country. Under Chairman Gary Gensler's leadership, the agency has been an obstacle in the digital assets space, forcing key talent to move overseas.
Wood stated that changes in the leadership of the SEC and FTC could usher in an era of technological growth in the U.S. In other words, she suggested that regulatory adjustments could benefit the cryptocurrency market, DeFi sector, and other related areas. Wood also mentioned that measures to loosen regulations could include reducing the influence of the U.S. SEC and encouraging technological development, which she believes would boost the economy. Additionally, tax cuts, government spending reductions, and a focus on technology-driven innovation could collectively 'propel' the U.S. economy, creating an environment favorable for growth in industries such as energy storage, artificial intelligence, and blockchain.
She compared this potential surge to the periods of booming stock investments in the 1980s and 1990s. She anticipates that if Trump's proposed policies are implemented, economic productivity will experience a similar 'golden age.' Wood believes that this atmosphere will not only be beneficial for cryptocurrencies but will also promote overall economic prosperity.
Like most industry professionals, Wood is optimistic about Trump's support for digital assets, especially Bitcoin. At the same time, she still believes that the new administration will foster growth and innovation in blockchain, DeFi, and other areas of cryptocurrency, predicting a 'explosive growth in productivity' in various innovative platforms, including autonomous driving, digital healthcare, and advanced manufacturing. (CoinGape)
