Ark Investment Management’s Cathie Wood said she welcomes an expected era of looser regulation once Donald Trump is inaugurated as president, notably on technology, cryptocurrencies and digital assets.
“The US almost lost our footing in the cryptocurrency world,” the Ark founder and CEO said, citing “too much regulation” and outgoing Securities and Exchange Commission Chairman Gary Gensler’s concerns over the industry.
Crypto and artificial intelligence are among technology platforms the US must “seize and harness”, to “lead the way, much like we did with the internet”, Wood said on CNN’s Inside Politics Sunday. “A change in the regulatory system, with both crypto and AI as prime focuses, is going to be quite meaningful.”
Wood also cited robotics, energy storage and multiomic sequencing.
Asked about Trump’s threats of tariffs on US trading partners, Wood said it “does make some sense” if they’re offset with tax cuts.
Stock markets are beginning to anticipate more dispersed gains under a second Trump administration, she said.
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“In the last four years, we saw massive concentration toward very few stocks,” Wood said. “I think the market’s going to broaden out right now and reward companies who are at the leading edge of innovation,” which will help small and medium businesses.
