Cathie Wood Downgrades Bitcoin Price Forecast to $1.2 Million, Highlights Stablecoin Shift

Ark Invest has adjusted its long-term Bitcoin price forecast from $1.5 million to $1.2 million, reflecting a changing view of the crypto ecosystem driven by stablecoins’ growing dominance. Cathie Wood attributes this shift to the accelerated adoption of stablecoins in emerging markets, where their speed and stability are exceeding expectations. She believes that Bitcoin is evolving into a digital gold reserve while stablecoins fill the role of transaction and liquidity within the new financial system.