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ARK Invest founder Cathie Wood stated that cryptocurrencies are part of the reason Donald Trump won the presidential election and remain politically significant ahead of the upcoming midterm elections. She said that the US Bitcoin strategic reserve currently mainly consists of assets seized through judicial processes, but the initial goal was to hold 1 million bitcoins, with potential future direct purchases. The strategic reserve was established by an executive order, managed by the Treasury Department, and is viewed as a national strategic asset similar to gold reserves. (The Block)