Ark Invest CEO Cathie Wood said she intends to vote for former US president Donald Trump in the forthcoming November elections.
Wood revealed her intentions during an interview with financial analyst Kevin Paffrath during the weekend. She said:
“I am going to vote for the person who’s going to do the best for our economy. I am a voter when it comes to economics. And on that basis, Trump.”
The Ark CEO further explained that her decision was influenced by economist Arthur Laffer’s description of the first three years of the Trump presidency “as the best in US economic history.”
Wood is the latest major figure from the crypto industry to publicly endorse Trump. The former President has adopted a more favorable stance toward crypto in recent months and pledged to support the industry and end the Biden administration’s “war on crypto” if elected.
Trump also recently vowed to make the US a Bitcoin mining “powerhouse” and said the flagship crypto “may be [the] last line of defense” against a central bank digital currency (CBDC).
Crypto has become an increasingly important issue for American voters this election cycle and many are expected to vote for Trump in November due to the Biden administration’s policies toward the industry.
Trump’s endorsement grows
Wood’s endorsement of Trump aligns with several crypto stakeholders and billionaires backing his re-election campaign.
Last week, Gemini co-founders Tyler Winklevoss and Cameron Winklevoss donated $1 million each in Bitcoin to Trump’s campaign and said they would vote for him in the Presidential elections. They wrote:
“President Trump is Pro-Bitcoin, Pro-Crypto, Pro-Business. And he will put an end to the Biden Administration’s war on crypto.”
Before that, venture capitalist David Sacks also stated that he supports Trump’s re-election, citing concerns with how President Joe Biden’s administration has handled the economy. He stated:
“I am giving my endorsement to our 45th President, Donald J. Trump, to be our 47th President. My reasons rest on four main issues that I think are vital to American prosperity, security, and stability – issues where the Biden administration has veered badly off course and where I believe President Trump can lead us back.”
According to Polymarket data, Trump has a 57% chance of winning, while Biden’s chances are pegged at 34%.
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