Ark Invest’s Cathie Wood says there is more clarity for investments

Last week, pro-crypto Republican presidential candidate Donald Trump won the US election, paving the way for him to follow through on his many promises that could boost cryptocurrency adoption in the country.

Following Trump’s election victory, Ark Invest CEO and founder Cathie Wood stated in a recent video that there is more clarity in the investment landscape. In the 18-minute video, Wood talked about several events related to the country’s financial system that could take place under the new administration.

A changing of the guard in the SEC

Throughout the video, Wood compares the Trump administration’s goal of addressing the financial landscape to similar actions by the Ronald Reagan administration in the 1980s. Reiterating the points in a tweet, he wrote:

Deregulation (defending the SEC, FTC, and others), cuts in government spending (making room for the private sector), tax cuts, and a focus on technological innovation are likely to turbocharge the economy of the US more strongly than during the Reagan revolution.

Under Joe Biden’s tenure, Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), maintained a strict approach to cryptocurrency adoption. The CEO of Ark Invest stressed that this move has caused the country to lose a lot of talent to other countries. Still, he’s optimistic that a change is imminent, as Trump intends to replace Gensler with a crypto-oriented chair soon.

Other points that Cathie Wood highlighted highlighted how the new administration will improve the country’s financial landscape. These include topics such as artificial intelligence (AI), tax cuts, health care and other advances.

How the Trump administration will affect Bitcoin

For most of his election campaign, Trump positioned himself as a pro-Bitcoin politician. He demonstrated this through many promises related to Bitcoin, one of which was to reserve BTC for the country.

Trump’s election victory sparked a significant upward trend in the prices of the major crypto asset, unlocking multiple price peaks in less than a week. Today, the cryptocurrency soared to more than $82,000 to mark a new all-time high, but has retreated slightly since then.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!