Ark Invest’s Cathie Wood Slashes Bitcoin Price Target Over Growing Stablecoin Mania

Outspoken Bitcoin investor Cathie Wooden mentioned Thursday that she’s changing into much less bullish on the main cryptocurrency’s value prospects due to how helpful stablecoins are proving to be. 

The CEO and CIO of Ark Make investments mentioned in an interview with CNBC that as an alternative of giving Bitcoin a bullish value goal of $1.5 million per coin by 2030, she now expects it to hit $1.2 million by that yr. Whereas nonetheless a large enhance from Bitcoin’s present value, that is a considerable reduce from the earlier goal.

Wooden mentioned that stablecoins are more and more getting used as an alternative of Bitcoin to make funds, and are scaling quicker than the most important and oldest cryptocurrency. 

“Stablecoins are usurping a part of the position we thought Bitcoin would play,” she mentioned. “Given what’s taking place to stablecoins—serving rising markets in the best way we thought Bitcoin would—I feel we may take $300,000 off of that bullish case [for Bitcoin].”

Stablecoins are digital tokens working on blockchains—like Ethereum or Solana—which can be pegged to non-volatile property, normally {dollars}. With a steady worth, such cryptocurrencies have been first primarily utilized by merchants to enter and exit digital asset trades with out the necessity for banks.

They’ve since been adopted by tech-savvy individuals in international locations with weak currencies as a approach to get publicity to the US greenback or ship cash. 

And now, high banks, main corporations like Meta and Amazon and even U.S. states are thinking about issuing the tokens, that are speculated to speed up funds leveraging blockchain infrastructure. 



U.S. President Donald Trump in July signed the GENIUS Act into regulation, establishing a framework for issuing and buying and selling stablecoins within the U.S.

Wooden added that Bitcoin may nonetheless develop monumentally as an asset and usurp half of the gold market as buyers more and more see it a digital model of the dear metallic. Some Bitcoin proponents have bought the asset as a long-term retailer of worth, or digital gold. 

Some hardcore Bitcoiners—generally known as “maximalists”—say the cryptocurrency will ultimately be used as a medium of alternate, although the talk over Bitcoin’s price as spending cash has been contentious at instances.

“I feel the entire [crypto] house will get larger,” she added. “We now have a protracted approach to go.”

Bitcoin’s value just lately stood at $101,775, in line with CoinGecko, down over 19% from its October all-time excessive of $126,080. The worth of the highest asset dipped under the $100,000 mark earlier this week for the primary time in six months, reflecting macroeconomic turmoil, liquidity considerations, and different potential elements in play.

Simply this week, institutional crypto agency Galaxy reduce its personal Bitcoin value goal for this yr, slashing it from $185,000 to $120,000 citing a brand new “maturity period” for the asset marked by institutional curiosity and decrease volatility.