Cathie Wood Says DOGE-Lead Elon Musk's Plan Of Putting The Treasury On Blockchain A 'Win, Win, Win' — 'Transparency, Efficiency, Security'

Cathie Wood, the founder of asset management firm Ark Invest, rallied around Elon Musk's idea of putting all U.S. government spending on blockchains for better transparency on Sunday.

What happened: Wood wrote, "Transparency, Efficiency, Security: Win, Win, Win," while reacting to the radical plan first backed by Musk, who is in charge of the Department of Government Efficiency, and later by Coinbase CEO Brian Armstrong.

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Notably, Ark Invest was the first public asset manager to gain Bitcoin BTC/USD exposure in 2015 and has consistently championed the utility of blockchains, including Ethereum ETH/USD and Solana SOL/USD.

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Why It Matters: Wood's backing comes in the wake of a polarizing debate over Musk's plans to get access to sensitive government systems.

The Department of Government Efficiency, or DOGE, a panel tasked with cutting wasted federal expenditure, sought access to the Treasury Department’s payment systems amid Musk’s allegations of government payment irregularities. However, a federal court blocked the move, citing the potential risk of "irreparable harm."

According to a live tracker, DOGE has saved U.S. taxpayers $36.70 billion as of this writing, which is about 1.8% of Musk’s optimistic $2 trillion target set during Donald Trump’s campaign. Note that this is not official data.

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