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

Cathie Wood, CEO of ARK Invest, has revised her Bitcoin forecast, lowering the 2030 bull case from $1.5 million to $1.2 million. Speaking on CNBC, she said the surge of stablecoins, which now serve as key payment rails in emerging markets, is taking over some of Bitcoin’s intended use cases.

Wood continues to view Bitcoin as a strong portfolio asset despite ongoing market changes. Her firm has recently increased holdings in cryptocurrency-related platforms, including shares in exchanges like Bullish.

Stablecoins are experiencing gradual shifts in market dominance among major issuers, potentially creating opportunities for broader competition within the crypto space. This development appears to factor into Wood’s updated assessment of the digital asset landscape.