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ARK Invest CEO Cathie Wood thinks blockchain and a handful of other technology sectors could grow under a Donald Trump administration.
Wood says in a new YouTube video that federal deregulation could drive tech innovation.
“If Trump’s elected and they do the decreasing regulation, getting government spending down, and expectations of government spending [is] down, I believe that what we’ve been expecting is going to happen on steroids, and that is the five major innovation platforms that are evolving today, so robotics, energy storage, artificial intelligence, blockchain technology and multiomic sequencing, they involve 14 different technologies and they’re all ready for prime time.
They’re entering exponential growth trajectories… they will be allowed to fly. Now why will they? Because technologies are inherently deflationary, and why is that? They deliver huge gains in productivity. And so can you imagine a world where unit growth accelerates and pricing is either flat or negative?”
In a bid to raise campaign funds and differentiate himself from President Joe Biden and Vice President Kamala Harris, Trump has attempted to stake out a position as a crypto-friendly candidate this year, though he previously described digital assets as “a disaster waiting to happen.”
In May 2018, while serving in the Oval Office, he also reportedly directed then-Treasury Secretary Steven Mnuchin to “go after Bitcoin [for fraud].”
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