Cathie Wood Sees No Utility in the Trump Token
Ark Invest CEO and CIO Cathie Wood shared her insights on the rising popularity of the Trump memecoin and its role within the broader cryptocurrency ecosystem.
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When asked about the purpose of Trump’s coin, given its lack of intrinsic value, Wood remarked:
Yes, it is a meme coin. In 2017, we went through the ICO movement, which was very much, if you remember, CryptoKitties started a movement back then in ICOs. This is part of the meme coin moment.
Source: Youtube
Wood also dismissed speculation that the Trump memecoin might offer exclusive perks, such as a chance to meet Donald Trump.
We don’t know of much utility for this coin, except that it is a meme coin of President Trump himself in the early days of, really, I think he’s ushering in the next phase of the crypto revolution,
she said.
When asked if she would invest in such a coin, Wood firmly replied, “No,” explaining that her company has “pretty much stayed away from the meme coins.”
Cathie Wood underscored Ark Invest’s focus on major cryptocurrencies with strong use cases and long-term potential.
We’re very focused on the big three. So Bitcoin, and as you know, A.B. is one of the larger spot Bitcoin ETFs out there. Happily, Ether and Solana in our private fund. So those, we believe, are the big three.
Wood also highlighted her confidence in the future of decentralized finance (DeFi), calling it a rapidly expanding sector built on platforms like Ethereum and Solana.
There are some crypto assets that are providing great utility for that movement,
she emphasized.
She made it clear that, in her view, DeFi offers far greater long-term potential than meme-based tokens, which she considers speculative.
Wood suggested that the current hype around meme coins might fade unless they evolve to provide meaningful utility and real-world value.
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