Bitcoin Magazine Cathie Wood Lowers Bitcoin 2030 Target To $1.2 Million as Stablecoins Gain Popularity

ARK Invest CEO Cathie Wood has adjusted her long-term Bitcoin forecast, citing the rise of stablecoins as a force in the crypto space.

Speaking on CNBC’s Squawk Box Thursday, Wood said that stablecoins are increasingly serving as digital dollars for payments and remittances — functions she previously expected Bitcoin to fulfill.

“Stablecoins are usurping part of the role that we thought Bitcoin would play,” Wood said. “Given what’s happening with stablecoins, we could take maybe $300,000 off that bullish case.”

The adjustment reduces ARK Invest’s 2030 Bitcoin price target from $1.5 million to $1.2 million, although Wood emphasized that the cryptocurrency’s long-term potential as “digi

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