In a recent statement, Ark Invest CEO Cathie Wood shared her thoughts on how stablecoins are evolving in the crypto space—especially in emerging markets. According to Wood, stablecoins are taking over one of Bitcoin’s originally intended roles: acting as a medium of exchange.
Initially, many expected Bitcoin to become a go-to solution for payments and remittances in countries with unstable currencies. However, stablecoins, which are pegged to the US dollar or other fiat currencies, offer a less volatile alternative. This makes them a more practical option for everyday transactions in places where financial stability is lacking.
Wood pointed out that these digital dollar equivalents are growing rapidly in usage, particularly across Latin America, Africa, and parts of Asia. As they gain traction, they’re naturally “usurping” Bitcoin’s role in day-to-day commerce.
Bitcoin Finds Strength as Digital Gold
Despite being outpaced by stablecoins for transactions, Bitcoin’s value proposition hasn’t diminished—it’s simply shifted. Wood emphasized that BTC is still highly relevant, but more as a store of value, much like gold.
In times of inflation or economic uncertainty, Bitcoin continues to be seen as a hedge. Its scarcity (only 21 million will ever exist) and decentralized nature position it as a long-term asset, rather than a spending tool.
Cathie Wood believes this shift in perception aligns with Bitcoin’s “digital gold” narrative. Though it may not be used for everyday payments in emerging economies, it’s being increasingly adopted by institutional investors and high-net-worth individuals seeking to protect their wealth.
CATHIE WOOD: "While stablecoins are usurping one of the roles we expected BTC to play in emerging markets, its role as a store of value (think gold) should have soared!" pic.twitter.com/a54VeWCA4L
— Cointelegraph (@Cointelegraph) November 10, 2025
What This Means for Crypto Adoption
The rise of stablecoins and the repositioning of Bitcoin underscore how dynamic the crypto ecosystem has become. While Bitcoin may not fulfill all the roles once imagined, its evolution into a digital asset with lasting value still marks a major success.
Meanwhile, stablecoins are filling the gap, offering real-world use cases for billions of people in need of stable, accessible digital money.