Cathie Woodthe founder of Ark Investment Management LLCpredicts a rebound in mergers and acquisitions after the victory of the president-elect of the United States donald trump in the 2024 elections.
What happened
“The FTC has prevented mergers and acquisitions. That’s going to change,” said Wood, known for leading the ARK Innovation ETF (NYSE:ARKK), in an interview with Bloomberg Television on Thursday.
The experienced investor continues to maintain her optimistic view on cryptocurrencies and predicts that Bitcoin (CRYPTO: BTC) could reach $1.5 million by 2030. Wood highlighted how Bitcoin is “becoming scarcer than gold,” noting that after the recent halving, its annual supply increase has dropped to 0. .9%.
According to Wood, gold production increases in parallel with its price. Bitcoin prevents this from happening.
His statements come as Bitcoin has seen a 120% rise this year and is now trading above $95,000. Wood highlights Bitcoin’s fixed supply limit of 21 million coins and attributes this rally to increased institutional interest and regulatory certainty.
The emergence of Bitcoin ETFs has significantly increased interest from retail investors, with notable offerings such as iShares Bitcoin Trust (NASDAQ:IBIT), Grayscale Bitcoin Trust (NYSE:GBTC), Fidelity Wise Origin Bitcoin Fund (BATS:FBTC), ARK 21Shares Bitcoin ETF (BATS:ARKB), Bitwise Bitcoin ETF (NYSE:BITB), Grayscale Bitcoin Mini Trust (NYSE:BTC), ProShares Bitcoin ETF (NYSE:BITO) and Volatility Shares Trust 2x Bitcoin Strategy ETF (BATS:BITX), which offer various options for investors seeking exposure to the Cryptocurrency market.
Why is it important
The manager of the Ark Innovation ETF, known for its high-conviction bets on disruptive technology, has recently adjusted its fund’s positions. The ARKK sold 14,016 shares of Tesla Inc. (NASDAQ:TSLA) at $436.17 and 33,402 shares of Palantir Technologies Inc. (NASDAQ:PLTR) at $74.21.
Wood also expressed optimism about overall market participation under Trump. “The market is going to expand now and reward companies that are at the forefront of innovation,” he said in a previous appearance on CNN, although he cautioned that growth would not be linear.
His perspective aligns with the predictions of analysts Bank of America about increased merger and acquisition activity, especially in the banking and biotechnology sectors, under a Republican administration. Analysts note that financial sector deals historically increased by 50% during Republican presidencies.
Photo courtesy of Ark Invest
You can also read: 5 stocks in focus this Friday: CCL, NKE, WGO, FDX and BB
For more updates on this topic, activate Benzinga Spain notifications or follow us on our social networks: x and Facebook.
Receive exclusive information on market movements 30 minutes before other traders
Benzinga Pro’s 14-day free trial, available in English, gives you access to exclusive information so you can receive useful trading signals before millions of other traders. CLICK HERE to start your free trial.
Crypto Keynote USA
For the Latest Crypto News, Follow ©KeynoteUSA on Twitter Or Google News.
