Cathie Wood on TRUMP Coin: "I Don't Know If It Has Much Utility Yet"

In a recent interview with Bloomberg TV, Cathie Wood, the founder and CEO of Ark Invest, was asked if she would consider buying TRUMP, the memecoin launched by former President Donald Trump. Wood, known for her investment in the "Big Three" cryptocurrencies – Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) – expressed uncertainty about the utility of TRUMP coin.

Wood labeled the launch of Official Trump (TRUMP) as part of a "memecoin moment," but she remained cautious about its potential use cases. "I mean there is speculation that you’ll get to meet President Trump as one of the utilities of owning this coin. I don’t know if that’s the case or not. But so far, we don’t know of much utility for this coin, except that it is a meme coin of President Trump," Wood said.

Wood's investment philosophy focuses on long-term growth and utility in the cryptocurrency market. She has mostly stayed away from meme coins, focusing instead on the mainstream cryptocurrencies she believes have more established use cases and potential for growth. This aligns with her investment philosophy, which prioritizes stable and predictable investments.

Wood noted that the launch of TRUMP could potentially symbolize the "next phase of the cryptocurrency revolution." However, she did not view the memecoin negatively, suggesting that it may have practical value in the future as part of the evolving crypto industry. This indicates that while Wood may not be interested in investing in TRUMP specifically, she recognizes the potential for memecoins to contribute to the broader cryptocurrency ecosystem.

In conclusion, Cathie Wood's decision to avoid investing in TRUMP coin is based on her focus on the "Big Three" cryptocurrencies and her investment philosophy, which prioritizes long-term growth and utility. While she acknowledges the potential for memecoins to contribute to the broader cryptocurrency ecosystem, she remains uncertain about the specific utility of TRUMP. As an investor, Wood is likely to continue evaluating the market and waiting for more concrete use cases before considering an investment in TRUMP or other memecoins.