Cathie Wood, founder and CEO of ARK Invest, has revised her long-term outlook for Bitcoin, lowering her 2030 price target by $300,000.
Specifically, Wood now expects the world’s largest cryptocurrency to reach about $1.2 million, as opposed to her earlier prediction of $1.5 million.
Speaking to CNBC, Wood explained that the rapid adoption of stablecoins in developing economies is transforming the use of digital assets.
“Stablecoins are taking on a role we once thought Bitcoin would fill,” she said, noting that this shift reflects a changing landscape in global finance.
Stablecoins Surge Ahead in Developing Economies
According to Wood, stablecoins are expanding faster than expected, particularly in regions experiencing inflation and currency volatility. Indeed, these dollar-pegged tokens have become a convenient and stable alternative to local currencies, providing users with a way to store value without the volatility of Bitcoin or traditional fiat systems.
Wood said stablecoins’ rise has prompted her to reduce Bitcoin’s upside potential. However, she still views Bitcoin as an essential part of the digital economy.
Bitcoin Still a Global Store of Value
Despite lowering her forecast, Wood emphasized that her confidence in Bitcoin remains strong. She described it as a global, decentralized monetary network that functions as a digital store of value similar to gold.
At the same time, she noted that stablecoins and Bitcoin serve distinct purposes. Whereas stablecoins are essentially “tokenized cash,” Bitcoin continues to represent a scarce, non-sovereign asset for long-term preservation of wealth.
Emerging Markets Embrace Stablecoins
Moreover, a report by Standard Chartered Bank supports Wood’s observation. The bank estimates that over $1 trillion could flow from traditional banks into stablecoins by 2028, particularly in emerging markets.
For instance, in countries such as Venezuela and Argentina, where inflation and capital controls erode savings, US dollar-pegged stablecoins like Tether (USDT) have become a popular refuge. They allow residents to safeguard purchasing power and transact in a stable currency without relying on local banks.
Venezuela’s Inflation Crisis Drives Adoption
Furthermore, the International Monetary Fund (IMF) reports that Venezuela’s inflation rate surged to 269% in 2025. This significant increase has further undermined the value of the Bolivar. Consequently, millions of Venezuelans have turned to stablecoins to hold savings and conduct everyday transactions.
In addition, reports from 2024 indicated that the Venezuelan government used stablecoins to circumvent US sanctions and continue oil trading, illustrating how digital currencies are reshaping financial strategies under economic pressure.
Bitcoin Faces Market Correction
Meanwhile, the Bitcoin price has recently come under pressure. Earlier this week, it fell below $100,000 for the first time since May, amid a broader sell-off in risk assets. The cryptocurrency last traded around $102,250, reflecting a 7% weekly decline.
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