## Cathie Wood Adjusts Bitcoin Price Forecast

**Cathie Wood**, the CEO and CIO of **Ark Invest**, has revised her **bullish Bitcoin price target** for 2030 downward from **$1.5 million** to **$1.2 million**. This adjustment stems from the unexpectedly rapid adoption of **stablecoins**, which are increasingly being used for payments instead of Bitcoin.

### The Impact of Stablecoin Growth

Wood explained in a **CNBC interview** that stablecoins are scaling faster than Bitcoin and are usurping roles once envisioned for the cryptocurrency, particularly in emerging markets. She noted, "Given what's happening to stablecoins—serving emerging markets in the way we thought Bitcoin would—I think we could take $300,000 off of that bullish case [for Bitcoin]."

Stablecoins are **digital tokens** pegged to stable assets like the U.S. dollar and operate on blockchains such as **Ethereum** and **Solana**. Initially used by traders, they are now embraced in countries with weak currencies for dollar exposure and remittances. Major entities, including top banks, companies like **Meta** and **Amazon**, and even U.S. states, are showing interest in issuing stablecoins, supported by regulatory developments like the **GENIUS Act** signed by former President Donald Trump.

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### Bitcoin's Role as Digital Gold

Despite the reduced forecast, Wood remains optimistic about Bitcoin's potential to capture half of the **gold market** as a **digital store of value**. However, debates persist among Bitcoin maximalists regarding its use as a medium of exchange.

### Market Context and Comparisons

This news follows similar adjustments in the crypto space. For instance, **Galaxy** recently slashed its Bitcoin price target for 2025 from $185,000 to $120,000, citing Bitcoin's entry into a "maturity era" characterized by institutional absorption and lower volatility. Currently, **Bitcoin's price** hovers around $101,775, down over 19% from its October all-time high of $126,080, influenced by macroeconomic factors and liquidity issues.

Wood concluded, "I think the whole [crypto] space gets bigger. We have a long way to go," emphasizing the ongoing evolution and expansion of the cryptocurrency ecosystem.

Ark Invest CEO Cathie Wood said Bitcoin probably won't reach her previous target of $1.5 million by 2030, because of rapid stablecoin adoption.

Cathie Wood's Shocking Bitcoin Price Cut: Why Stablecoins Are Stealing the Spotlight

## Hedge Funds Ramp Up Crypto Use After Trump’s Regulatory Push

President Donald Trump’s friendly embrace is doing what bull markets alone couldn’t: Pulling mainstream hedge funds deeper into crypto after years of resistance.

The percentage of traditional hedge funds holding crypto this year rose to **55%** from **47%** in 2024, according to a new survey from the **Alternative Investment Management Association** and **PwC**.

President Donald Trump’s friendly embrace is doing what bull markets alone couldn’t: Pulling mainstream hedge funds deeper into crypto after years of resistance.

Yesterday Bitcoin Articles Digested