Cathie Wood Cuts 2030 Bitcoin Forecast to $1.2M Amid Stablecoin Surge
ARK Invest CEO Cathie Wood has trimmed her 2030 Bitcoin forecast to $1.2 million, down $300,000 from her initial $1.5 million target and well below the $2.4 million projection she raised in April. The revised Bitcoin forecast highlights the rapid adoption of dollar-pegged stablecoins such as USDT and USDC in emerging markets as a key factor reshaping demand. A Standard Chartered report warns that stablecoins could siphon over $1 trillion from traditional banks in developing regions by 2028. In Venezuela, where annual inflation has hit 269%, USDT is widely used as a hedge. Combined USDT and USDC supply now totals nearly $260 billion. Despite the forecast adjustment, Wood remains bullish on Bitcoin as “digital gold” and notes institutional adoption is still in its early stages. Traders should monitor stablecoin liquidity and emerging-market flows to gauge potential impacts on Bitcoin demand and price dynamics.
Bearish
Cutting the long-term Bitcoin forecast by $300K signals a tempered outlook, reflecting stronger competition from stablecoins for store-of-value flows. The revised Bitcoin forecast underlines how stablecoin liquidity in emerging markets may divert demand away from BTC. In the short term, traders could see muted upside as attention shifts to USDT/USDC liquidity metrics. Over the longer term, persistent stablecoin adoption may limit Bitcoin’s growth trajectory despite its digital gold narrative, keeping price pressure in place.