Cathie Wood was asked if she would buy Trump Coin, and here’s what she said – Grayscale Bitcoin Mini Trust (BTC) Undivided Fractional Beneficial Interest Common Units (ARCA:BTC)
Cathie WoodFounder of Asset Management Company Ark InvestHe expressed uncertainty about the president’s usefulness Donald Trump Coin on Wednesday, adding that her company avoided memecoin investments.
What happenedDuring an interview with Bloomberg TV, Wood described the launch Official Trump (Trump) as part of the “memecoin moment,” but only time will tell if it is useful in some way.
“I mean, there’s been speculation that you’re going to meet President Trump as one of the utility for owning this coin. I don’t know if that’s the case or not. But so far, we don’t know much of a utility for this coin, except that it’s a token coin for President Trump,” the veteran investor said.
However, Wood noted that the launch could symbolize “the next phase of the cryptocurrency revolution.”
When asked if she would buy the cryptocurrency, Wood responded that Ark Invest has mostly stayed away from meme currencies, focusing instead on the “big three,” which are Bitcoin Bitcoin/US Dollar, Ethereum ETH/USDand Solana Sol/US Dollar.
See also: Michael Saylor’s proposal to increase the number of MicroStrategy shares has been approved by shareholders – more Bitcoin purchases on the cards?
Why does it matter?: The meme coin, which was launched last weekend, has seen extreme fluctuations in its price and capitalization.
At its peak, the coin generated a fully diluted valuation of nearly $75 billion, far more than many reputable publicly traded companies. As of this writing, the valuation has been cut in half to $36.79 billion.
Its affiliated entities the Trump Organization Control 80% of the currency supply. When President Trump was asked about the “several billion dollars” raised by the memecoin, he called it “peanuts.”
Price action: At the time of writing, Trump was trading at $36.59, down 11.94% over the past 24 hours, according to data from CoinMarketCap.
Image via Flickr
Read next:
Market news and data brought to you by Benzinga APIs
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
