Cathie Wood, CEO of ARK Invest, believes blockchain and a handful of other technology sectors could grow under Donald Trump’s administration.
Wood argues in a new YouTube video that federal deregulation could spur technological innovation.
“If Trump is elected and they relax regulations, cut government spending and the expectations for government spending go down, I believe what we expected is going to happen on steroids, and those are the top five platforms innovations that are evolving today, so robotics, energy storage, artificial intelligence, blockchain technology and multi-omic sequencing, involve 14 different technologies and they are all ready for prime time. .
They are entering exponential growth trajectories…they will be allowed to fly. Now why will they do it? Because technologies are intrinsically deflationary, and why? They generate enormous productivity gains. So, can you imagine a world where unit growth accelerates and prices are either stable or negative? »
In an effort to raise campaign funds and differentiate himself from President Joe Biden and Vice President Kamala Harris, Trump has attempted to position himself this year as a crypto-friendly candidate, although he has previously described digital assets as “a disaster waiting to happen”. .”
In May 2018, while serving in the Oval Office, he also reportedly ordered then-Treasury Secretary Steven Mnuchin to “go after Bitcoin (for fraud).”
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