ARK Invest founder and CEO Cathie Wood has adjusted her long-term outlook for Bitcoin, lowering its 2030 price target by $300,000. Specifically, Wood now expects the world's most valuable cryptocurrency to reach about $1.20 million, compared to her previous forecast of $1.50 million.
Ms Wood said the rise of stablecoins had prompted her to downgrade its upside potential, although she still saw bitcoin as an important part of the digital economy.
Despite the downgrade, Ms Wood stressed that her faith in bitcoin, which she described as a global, decentralised network of money that functions like gold as a store of digital value, remained strong.
At the same time, she points out that stablecoins, which are essentially "tokenised cash", serve very different purposes than bitcoin, which has always been a scarce, non-sovereign asset for long-term wealth preservation.
Cathie Wood cuts Bitcoin 2030 price target to $1.20 million
2025-11-07 07:26:05
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