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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 “digital gold” remains intact.
Wood noted that this stablecoin trend reflects broader adoption and signals that Bitcoin’s role is evolving more toward a store-of-value function rather than a transactional one.
“Bitcoin is still strengthening its role as a global store of value, but in the payment area stablecoins are becoming a more practical means,” Wood said.
She also touched on Bitcoin’s decentralized network and limited supply as key drivers of its long-term economic momentum.
Galaxy Digital also drops Bitcoin target
Galaxy Digital recently lowered its year-end target to $120,000, down from $185,000, citing large-scale selling by whales, rotations into assets like gold and AI, and leveraged liquidations.
Alex Thorn, Galaxy’s head of research, described this period as a “maturity era,” in which lower volatility and institutional absorption dominate the market.
Despite the temporary pullbacks, JPMorgan analysts remain bullish on Bitcoin, projecting prices could climb to $170,000 over the next six to twelve months as leverage in futures markets resets.
Bitcoin itself has faced a turbulent month. Following an all-time high above $126,000 in early October, the cryptocurrency has fallen roughly 19%, dipping below $100,000 for the first time in four months amid panic selling and cascading liquidations. At the time of writing, Bitcoin is at $101,950.
While some analysts argue that a decline of 20% or more signals a bear market, others maintain that such corrections remain typical within crypto cycles.
Despite all this volatility, Wood reaffirmed ARK Invest’s long-term bullish stance. “Bitcoin is a technology, a global monetary system, and a new asset class all wrapped in one,” she said. “We have just started, so we have a long way to go.”
This post Cathie Wood Lowers Bitcoin 2030 Target To $1.2 Million as Stablecoins Gain Popularity first appeared on Bitcoin Magazine and is written by Micah Zimmerman.
