Cathie Wood lowers Bitcoin forecast to $1.2 million by 2030 amid stablecoin rise

Cathie Wood, CEO of ARK Invest, has lowered her firm's long-term bullish forecast for Bitcoin, reducing the 2030 target from $1.5 million to $1.2 million. Wood cited the explosive growth of stablecoins, which are increasingly functioning as primary payment rails in emerging markets, as a factor taking over some of the use cases originally anticipated for Bitcoin. Despite this adjustment, Wood maintains a positive long-term view of Bitcoin as a strong portfolio asset and notes that Ark Invest has recently increased holdings in crypto-related platforms, such as exchange operator Bullish. The revision reflects a broader acknowledgment of shifting market dynamics and intensifying competition among digital asset issuers.

(Source：Crypto Briefing)