Ark's Cathie Wood, CEO, Substantially Lowers Bitcoin Price Forecast for 2030 from $1.5 Million to $1.2 Million

On the 7th, Cathie Wood, CEO of major US hedge fund Ark Invest, during an interview with CNBC, lowered her bullish Bitcoin (BTC) forecast for 2030 from the previous $1.5 million to $1.2 million. She explained that the rapid adoption of stablecoins was the reason for this adjustment.

Wood stated that 'stablecoins are partially usurping the role of Bitcoin,' particularly noting that in emerging markets, stablecoins have penetrated more than expected as a means of payment and savings. Tether's USDT and Circle's USDC together have reached a total supply of approximately $260 billion.

She mentioned that 'stablecoins in emerging markets are ...'