Cathie Wood, CEO of ARK Invest, argues that a potential victory for Donald Trump in the presidential elections could increase the growth potential of technologies like
blockchain
. In a recent YouTube video, Wood stated that easing federal regulations would create a significant opportunity for technological innovation.
Contents
Theoretical Support in Technology
Evaluations on Crypto and Technology by Wood
Future Predictions and Political Impacts
Theoretical Support in Technology
According to Wood, Trump’s election could accelerate advancements in technology through reduced government spending and regulations. These developments are expected to be particularly notable in fields such as robotics, energy storage, artificial intelligence, blockchain technology, and multi-omic sequencing.
Wood reminded viewers that Trump is trying to cultivate a crypto-friendly image this year, despite having previously taken a harsh stance against the sector. Trump had once described
cryptocurrencies
as a “disaster waiting to happen” and requested then-Treasury Secretary Steven Mnuchin to combat Bitcoin
$
75,519
.
Evaluations on Crypto and Technology by Wood
Cathie Wood pointed out that certain technologies are structurally deflationary, leading to accelerated advancements when combined with productivity increases. This trend is expected to encourage growth in unit production while keeping prices stable or causing them to drop.
Wood stated, “Technologies are inherently deflationary. They provide significant productivity gains, which in turn accelerate unit growth, resulting in stable or declining prices.”
Future Predictions and Political Impacts
Wood indicated that despite Trump’s past tough stance on digital assets, he is attempting to adopt a more positive approach towards
crypto
during his campaign. Reducing regulations in technology could foster innovation and positively impact the sector.
According to Wood, blockchain and other key technologies are currently gaining momentum on their growth trajectories. She suggests that if freed from regulatory constraints, these technologies could experience significant upward momentum.
These statements provide crucial insights into how technological innovation may shape itself based on political orientations. Wood’s views can guide technology companies and stakeholders in evaluating potential opportunities and risks.
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Disclaimer:
The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
