CandleFocus Trump’s Memecoin to Usher in New Crypto Revolution: Cathie Wood
2025-02-03
Author: Content Editor
Cathie Wood, CEO of Ark Investment, claims that the launch of Donald Trump's meme coin marks a new revolution in the crypto industry. She compares the movement to the ICO campaign of 2017 and believes that meme coins are gaining traction and competing with utility assets. Although the TRUMP token initially surged in value after its launch, it has since retraced and its actual use case remains unclear. Wood also mentioned speculation about token holders having the opportunity to meet with Trump, but this has not been confirmed. While she believes the token signifies a revolution, Wood's firm, Ark Investment, has avoided meme coins and only focuses on the top three cryptocurrencies: Bitcoin, Ethereum, and Solana. Meme coins, despite concerns about their lack of utility, are becoming increasingly prevalent in the digital asset industry, with companies like Bitwise and Grayscale seeking to launch a Dogecoin ETF.
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