Cathie Wood, CEO of ARK Invest, has lowered her firm’s Bitcoin price target for 2030 from $1.5 million to $1.2 million, attributing the change to the rising use of stablecoins in global finance.
In a CNBC interview, Wood explained that stablecoins have become the preferred medium for payments and remittances, overtaking a role she previously believed Bitcoin would fulfill.
“Stablecoins are usurping part of Bitcoin’s transactional use,” she said, noting that the adjustment trims about $300,000 from ARK’s earlier projection.
Despite this revision, Wood remains optimistic about Bitcoin’s future as “digital gold,” highlighting its decentralized nature and limited supply as long-term strengths.
She added that Bitcoin’s role has shifted toward being a value-preserving asset, while stablecoins have emerged as efficient tools for day-to-day financial transfers.
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