Cathie Wood, the founder of asset management firm Ark Invest, expressed uncertainty about the utility of President Donald Trump’s coin on Wednesday, adding that her company has avoided memecoin investments.
What Happened: During an interview with Bloomberg TV, Wood labeled the launch of Official Trump (TRUMP) as part of a “memecoin moment,” but only time will tell if it becomes useful in some way.
“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,” the veteran investor said.
That said, Wood …
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