ARK Investment Adjusts Bitcoin Forecast, Sees Stablecoins Driving Adoption

Ark Invest’s Cathie Wood lowered her 2030 Bitcoin price prediction from $1.5 million to $1.2 million, citing the rise of stablecoins as a key driver for this change. While acknowledging the downward adjustment, Wood emphasizes that Bitcoin remains a core asset in her portfolio and a hedge against financial uncertainty. She highlights the increasing popularity of stablecoins as the preferred tool for everyday transactions in developing economies. Wood believes that stablecoins are transforming the role of digital money by offering fast and borderless access to the US dollar, especially in regions where traditional currencies face inflation or restrictions.