Cathie Wood Predicts US Government Will Begin Purchasing Bitcoin for National Reserve

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ARK Invest founder Cathie Wood stated that crypto remains a politically important issue for President Trump as he faces midterm elections that could weaken his presidency, and those concerns bode well for the US Bitcoin Reserve.

Wood argued in a recent episode of the “Bitcoin Brainstorm” podcast that the federal government might soon start purchasing Bitcoin to add to the national strategic reserve, which was created by executive order less than a week into Trump’s second term.

“It seems as though there has been reticence about actually buying Bitcoin for the strategy reserve. So far, it’s confiscated [Bitcoin],” Wood said, referring to the assets seized by government forfeiture that Trump pledged not to sell.

“The original intent was to own 1 million Bitcoin, so I actually think they will start buying,” she added.

According to Wood, there are several reasons why Trump is likely to continue in his support of crypto, including his family’s growing stake in the industry’s success. She also argued the “crypto community” was “part of the reason he won the presidency.”

“The most important one is that he doesn’t want to be a lame duck,” Wood said. “He wants to have another one or two productive years, and I think he sees crypto as a path to the future.”