Cathie Wood, founder and CEO of ARK Invest, announced in an interview that she has lowered her 2030 price target for Bitcoin from $1.5 million to $1.2 million.
Wood cited the rapid adoption of stablecoins in developing countries as the reason for this revision. She argues that the rise of stablecoins is reshaping the use cases of digital assets and taking over some of Bitcoin's roles.
Wood noted that stablecoins serve as “tokenized cash,” offering more practical solutions for payments and value transfer. However, she also emphasized that Bitcoin maintains its unique position as a “global, decentralized monetary network and digital store of value.”
The famous investor stated that Bitcoin will continue to be adopted by both institutional and individual investors in the long term and will strengthen its “safe haven” function, especially during periods of increasing macroeconomic uncertainty.
Cathie Wood's new price target for Bitcoin doesn't represent a major shift in ARK Invest's long-term crypto strategy. The firm maintains its belief that Bitcoin will become a fundamental asset class in the global financial system. Wood's new forecast reflects cautious optimism in the crypto market while also acknowledging the rise of the stablecoin economy.