Cathie Wood Reduces 2030 Bitcoin Forecast to $1.2 Million Amid Stablecoin Rise

Amid a recent crypto market correction, Ark Invest's CEO, Cathie Wood, adjusted her 2030 Bitcoin forecast, citing the rise of stablecoins.

Stablecoins Impact on Bitcoin's Role

Wood reduced her Bitcoin forecast by 20% from $1.5 million, attributing this to stablecoins taking on roles she expected for Bitcoin.
She noted stablecoins are significantly supporting emerging markets and new payment systems in the US.
The GENIUS Act has accelerated stablecoin adoption, with countries like the UK and South Korea developing regulatory frameworks.
Companies in traditional finance, such as Western Union, plan to launch stablecoins, indicating strategic moves into this sector.

Despite adjustments, Wood remains optimistic about Bitcoin, highlighting its potential due to growing institutional interest.
Bitcoin has dropped 20% from its October high of $126,000 but retains strong long-term support from analysts and investors.
Wood emphasizes Bitcoin's role as a global monetary system and notes that institutional investment is just beginning.
The broader crypto ecosystem is expanding, suggesting long-term growth potential.

Bitcoin, BTC, BTCUSDT